Change in an industry is the result of:

Question

Quizplus · Accepted Answer

While all of the options may play a role in industry change, the most accurate answer is B because it highlights the combination of external factors (such as technology, consumer preferences, and economic growth) and the actions taken by the industry incumbents themselves (competitive strategies) that ultimately bring about change. The Porter five forces model may help to analyze these changes but does not encompass all possible factors. Option D is also not correct as there are many economic and psychological theories that attempt to explain industry change.

Change in an Industry Is the Result Of