An advantage of concentrating on a single industry is that by staying in one industry a firm can focus its resources and capabilities on competing successfully in just one business.

Question

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By focusing on a single industry, a firm can develop in-depth knowledge and expertise, which can help them to operate more efficiently, effectively and successfully in that industry. It also allows them to leverage their resources and capabilities, implement industry-specific strategies, and build stronger relationships with customers, suppliers, and other stakeholders in the industry. This ultimately leads to improved performance, increased market share, and long-term growth and profitability.

An Advantage of Concentrating on a Single Industry Is That