Members of a Strategic Group

question 58

Multiple Choice

Members of a strategic group:

• A) compete only with members of other strategic groups.
• B) are affected by Porter's five competitive forces in the same way and to the same degree as the members of other strategic groups.
• C) follow a business model that is similar to that pursued by other companies in the group.
• D) face no threat of product substitutes from other members.
• E) move easily between groups without barriers.

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Definitions:

Industrialization

The development of industries in a country or region on a wide scale, transforming economies from agrarian to industrial.

Westward Expansion

The 19th-century movement of settlers into the American West, encouraged by ideas like Manifest Destiny, leading to the growth of new territories and states.

Thomas Edison

An American inventor and businessman who developed many devices that greatly influenced life around the world, including the phonograph and the electric light bulb.

Alternating Current

An electric current that periodically reverses direction, in contrast to direct current (DC) which flows only in one direction.