The Key Success Factors in an Industry

question 23

Multiple Choice

The key success factors in an industry

• A)are the strategy elements,intangible assets,and competitive capabilities that most affect industry members' abilities to prosper in the marketplace.
• B)are determined by the industry's driving forces.
• C)hinge on how many different strategic groups the industry has.
• D)depend on how many rivals are trying to move from one strategic group to another.
• E)are a function of such considerations as how many firms are in the industry,how many have market shares above five percent,and whether the business models being used are similar or diverse.

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Definitions:

Seniority Rules

Guidelines in a workplace that determine the priorities and privileges based on the length of service of employees.

Unregulated Market

A market operating without governmental oversight, lacking controls over practices that can lead to unfair competition and consumer vulnerabilities.

Commodify

The process of turning something into a commodity that can be bought and sold.

Professional Association

An organization seeking to further a particular profession, the interests of individuals engaged in that profession, and the public interest.