Older firms often fail because they fail to adjust to competitive environments.

Question

Quizplus · Accepted Answer

Older firms that are unable to adapt and remain competitive in their industries will likely struggle and possibly fail. This can be due to a variety of factors, such as new market entrants, technological advances, or changing consumer preferences. Thus, it is essential for firms to constantly assess their competitive landscape and adapt accordingly to remain successful.

Older Firms Often Fail Because They Fail to Adjust to Competitive