The Key Success Factors in an Industry

question 6

Multiple Choice

The key success factors in an industry

• A)are those competitive factors that most affect industry members' abilities to prosper in the marketplace-the particular strategy elements, product attributes, operational approaches, resources, and competitive capabilities that spell the difference between being a strong competitor and a weak one, and between profit and loss.
• B)are determined by the industry's driving forces, which are essential to surviving and thriving in the industry.
• C)hinge on how many different strategic groups the industry has operating within the industry and their level of profitability and sustainable advantages.
• D)depend on how many rivals are trying to move from one strategic group to another without losing momentum.
• E)are a function of such considerations as how many firms are in the industry, how many have market shares above 5 percent, and whether the business models being used are similar or diverse.

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Definitions:

Poisson Distribution

A distribution for predicting the probability of a given number of events occurring over a fixed interval of time or space.

Normal Distribution

A probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Binomial Distribution

A probability distribution that summarizes the likelihood that a value will take one of two independent values under a given set of parameters or assumptions.

Random Variable

A factor that acquires numerical values due to chance occurrences.