A collection of companies in an industry that tend to focus on the same subsets of key success factors is called a(n):
A) Business guild
B) Trade association
C) Strategic group
D) Organizational herd

Question

Quizplus · Accepted Answer

A strategic group is a collection of companies in the same industry that tend to focus on the same subsets of key success factors, such as product quality, price, distribution channels, and market segments. Business guilds and trade associations are organizations that represent the interests of businesses in a specific industry, but they may not necessarily share the same strategic focus. Organizational herd is not a recognized term in business strategy.

A Collection of Companies in an Industry That Tend to Focus