Which of the following statements about the competitive environment is most accurate?
A) Firms that produce a quality product will almost always succeed in the competitive marketplace.
B) Traditional firms will be unable to successfully compete against the new Internet firms unless they immediately create a way to reach customers through this technology.
C) Firms that empower their employees will continue to perform poorly in the competitive environment.
D) Companies now have to offer both high-quality products and outstanding service at competitive prices.

Question

Quizplus · Accepted Answer

In today's competitive environment, customers are looking for a combination of high-quality products, outstanding service, and competitive prices. Simply producing a quality product is not enough to ensure success. Additionally, technology is not the only factor in determining success, as traditional firms can still compete by adapting and innovating. Finally, empowering employees can lead to improved performance and may be a competitive advantage rather than a hindrance.

Which of the Following Statements About the Competitive Environment Is