Potential Competitors Are Organizations That Are Not Presently in a Task

question 11

True/False

Potential competitors are organizations that are not presently in a task environment but have the resources to enter if they so choose.

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Definitions:

Business Cycle-sensitive

Describing organizations or industries that exhibit fluctuations in performance or demand in response to changes in the economic cycle.

Good Business

A business approach that goes beyond profit-making to include ethical practices, social responsibility, and positive community impact.

Timing

The selection of the best moment to initiate or perform an action to achieve maximum effectiveness.

High-paying Job

A position that offers compensation significantly above the average compared to similar roles in the industry or region.