According to the ________ approach, a firm's appropriate strategy, key assets, and requisite skills are dictated by industry characteristics.
A) P/L
B) Q/A
C) I/O
D) P/R

Question

Quizplus · Accepted Answer

The I/O (Industrial Organization) approach posits that a firm's strategy and performance are largely influenced by the characteristics of the industry it operates in, such as the level of competition, availability of resources, barriers to entry, and technological advancements. Therefore, a firm should focus on identifying and exploiting opportunities that arise from external market conditions rather than relying on internal strengths and weaknesses.

According to the ________ Approach, a Firm's Appropriate Strategy, Key