Firm performance is not just a function of a company's own actions but must also be understood with relation to the actions of what major external business force?
A)Labor force
B)Customers
C)The economy
D)Competition
E)Society

Question

Quizplus · Accepted Answer

Competition is a major external business force that can greatly impact a firm's performance. The actions of competitors, such as changes in pricing or new product offerings, can directly affect a firm's market share and profitability. Understanding and reacting to competition is an important part of a firm's strategic planning and can be critical to its success. While other external forces, such as the economy or society, can also have an impact on firm performance, competition is typically the most direct and pressing external threat.

Firm Performance Is Not Just a Function of a Company's