An Industry's Key Success Factors

question 17

Multiple Choice

An industry's key success factors

• A)are a function of market share,entry barriers,economies of scale,degree of vertical integration,and industry profitability.
• B)vary according to whether an industry has high or low long-term attractiveness.
• C)can be determined through identifying an industry's dominant economic characteristics,assessing the five competitive forces,considering the impacts of the driving forces,comparing the market positions of industry members,and forecasting the likely next moves of industry rivals.
• D)can be determined from studying the "winning" strategies of the industry leaders and ruling out as potential key success factors the strategy elements of those firms considered to have "losing" strategies.
• E)depend on the relative competitive strengths of the industry leaders and how vulnerable they are to competitive attack.

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Definitions:

Financial Statement

A written record that conveys the business activities and the financial performance of a company.

Permanent/Temporary

Refers to the classification of accounts based on their longevity; permanent accounts are not closed at the end of the accounting period, while temporary accounts are.

Net Sales

Total sales revenue less returns, allowances, and discounts.

Percentage Increase

A measure of the degree to which a quantity has grown compared to its previous value, expressed as a percentage.