The Tendency of Existing Firms to Be Slow to Respond

question 16

Multiple Choice

The tendency of existing firms to be slow to respond to changes in the industry environment due to their large size,established routines,or prior strategic commitments to existing suppliers and customers is known as:

• A) monopoly costs.
• B) path dependency.
• C) incumbent inertia.
• D) technology trajectory.

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Definitions:

Confidentiality

The requirement to keep certain information secret or private, often to protect personal data or sensitive corporate information.

Competitive Advantage

This refers to the attributes that allow an organization to outperform its competitors, such as superior technology, skilled workforce, or better customer service.

Skills and Technologies

The abilities and tools required to effectively perform tasks or jobs in the modern workplace, often involving digital competencies and technical expertise.

Competencies

Refers to the skills, knowledge, and abilities that individuals possess which enable them to perform effectively in their jobs or roles.