The question "What does a firm need to survive competition?":
A)Can be addressed through a careful analysis of competitors using all possible means, even at the edge of legality and ethics
B)Can be addressed by studying very carefully the two largest rivals in the industry
C)Requires an understanding of the current and future basis of competition specific to the industry
D)Can never be answered clearly, because competitors will not divulge what they are doing

Question

Quizplus · Accepted Answer

The question of what a firm needs to survive competition cannot be answered through unethical means such as analyzing competitors at the edge of legality and ethics (choice A), nor is it enough to only study the two largest rivals in the industry (choice B). Instead, the question requires an understanding of the current and future basis of competition specific to the industry (choice C) in order to develop a sustainable competitive advantage. Choice D is incorrect as there are legitimate ways to analyze competitors through market research and other means.

The Question "What Does a Firm Need to Survive Competition