A Firm Can Survive and Succeed in the Long Run

question 24

Multiple Choice

A firm can survive and succeed in the long run if it successfully develops strategies to confront the _______________ that shape the structure of competition in its industry.

• A) technological innovations
• B) competitive business processes
• C) competitive forces
• D) competitive strategies

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Definitions:

Human Culture

The sum total of ways of living built up by a group of human beings and transmitted from one generation to another, including customs, practices, languages, beliefs, and artifacts.

Steward

An individual responsible for managing or looking after another's property, organization, or resources, showing care and foresight in their guardianship.

Solid House

A well-built, structurally sound dwelling that provides safety and comfort to its inhabitants.

Genetics

The study of genes, genetic variation, and heredity in organisms, and how these factors contribute to the traits and behaviors of living entities.