Understanding the competitive forces in an industry is:
A)A largely futile exercise for managers
B)Is of academic interest, but does not bring any value for strategic management
C)A way to enable managers to allocate their resources where competition is the strongest
D)A way to enable managers to position the firm where its particular capabilities can be deployed to best advantage

Question

Quizplus · Accepted Answer

Understanding the competitive forces in an industry allows managers to position the firm where its particular capabilities can be deployed to best advantage. It helps to identify areas where the firm has a competitive advantage and can allocate resources accordingly. This understanding is crucial for strategic management and decision making.

Understanding the Competitive Forces in an Industry Is