Thinking strategically about industry and competitive conditions in a given industry involves evaluating such considerations as
A) cultural,lifestyle,and demographic changes.
B) the birth of new industries,new knowledge,and disruptive technologies.
C) weather,climate change,and water shortages.
D) interest rates,exchange rates,unemployment rates,inflation rates,and economic growth.
E) how often sellers alter their prices,how sensitive buyers are to price differences among sellers,whether the item being purchased is a good or a service,and whether buyers buy frequently or infrequently.

Question

Quizplus · Accepted Answer

The correct answer refers to actions in a company's industry and competitive environment,whereas all of the other responses refer to characteristics of a company's economic environment,as shown in Figure 3.1.The factors and forces in a company's external environment that have the biggest strategy-shaping impact typically pertain to the company's immediate inner ring industry and competitive environment-competitive pressures,the actions of rival firms,buyer behavior,supplier-related considerations,and so on.

Thinking Strategically About Industry and Competitive Conditions in a Given