In practice,drawing the boundaries of industries and markets is:
A)A matter of the personal preferences of top managers
B)Almost impossible to carry out with rigor because it requires many "rules of thumb" and approximations
C)Largely a matter of judgment and experience contingent on the purpose of the analysis
D)Critical to the output of the analysis and therefore should only be undertaken with the help of an academic or consultant

Question

Quizplus · Accepted Answer

Drawing the boundaries of industries and markets is largely a matter of judgment and experience contingent on the purpose of the analysis. While there are some established methods and frameworks for defining industries and markets, they often require approximations and are not always applicable to every situation. Ultimately, the boundaries will depend on the specific objectives of the analysis and the context in which it is being conducted. Personal preferences of top managers or the help of an academic or consultant may be useful, but they are not the only determinants of industry and market boundaries.

In Practice,drawing the Boundaries of Industries and Markets Is