In Identifying an Industry's Key Success Factors,strategists Should

question 98

Multiple Choice

In identifying an industry's key success factors,strategists should

• A) try to single out all factors which play a major role in shaping whether buyer demand grows rapidly or slowly.
• B) consider on what basis customers choose between competing brands, what resources and competitive capabilities firms need to be competitively successful, and what shortcomings are almost certain to put a company at a significant competitive disadvantage.
• C) consider whether the number of strategic groups is increasing or decreasing and whether the five competitive forces are powerful or relatively weak.
• D) consider what it will take to overtake the company with the industry's overall best strategy.
• E) focus their attention on what it will take to capitalize on impacts of the industry's driving forces.

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Definitions:

Fellow Workers

Colleagues or co-workers within an organization who collaborate or work together in a professional environment.

Cognitive Dissonance Reduction

The process of alleviating discomfort caused by holding two contradictory beliefs, through changing attitudes, beliefs, or behaviors.

Perceived Control

An individual’s belief in their ability to influence events and outcomes in their lives.

Rewards Involved

Incentives or benefits provided to individuals to motivate performance or behavior.