Industry Conditions Change

question 71

Multiple Choice

Industry conditions change:

• A) because of such powerful driving forces as swings in buyer demand,changing interest rates,ups and downs in the economy,and higher/lower entry barriers.
• B) because of newly emerging industry threats and industry opportunities that alter the composition of the industry's strategic groups.
• C) because new industry key success factors emerge.
• D) because important forces are enticing or pressuring certain industry participants (competitors,customers,suppliers)to alter their actions in important ways.
• E) chiefly because of changes in the barriers to entry and the degree of competition from substitute products.

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Definitions:

Agency Relationship

A legal and principal relationship formed between two parties, where one party, the agent, is authorized to act on behalf of another, the principal, in business dealings.

Negligence Alleging

The act of claiming or asserting that a party failed to meet its duty of care, leading to harm or damage.

Independent Contractor

An individual or business that provides goods or services to another entity under terms specified in a contract or within a verbal agreement, not considered an employee.

Independent Contractor

An individual in business for themselves, who provides services to others under terms specified in a contract or agreement.