The Major Opportunity Facing Firms in Fragmented Industries Is

question 72

Multiple Choice

The major opportunity facing firms in fragmented industries is

• A) refining their current products and emphasizing an increase in service quality.
• B) developing new products and technologies.
• C) creating a first-mover advantage through technological leadership.
• D) the implementation of strategies that began to consolidate the industry into a smaller number of firms.

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Definitions:

Future Cost

Predicted financial expenditure associated with an action or decision, considering potential increases in prices or changes in resource availability.

Labour

The human effort, whether physical or mental, that is applied to the production of goods and services.

Goal-Sharing Plans

A type of incentive plan where employees are rewarded if collective goals are achieved, promoting teamwork and collaboration.

Employee Participation

A workplace practice where employees are involved in decision-making processes, potentially improving satisfaction and productivity.