Suppliers are important actors in the _______ as powerful suppliers can extract profitability from an industry by restricting the supply of essential components and forcing prices up.
A)microenvironment
B)macroenvironment
C)minienvironment
D)majorenvironment

Question

Quizplus · Accepted Answer

Suppliers are a part of the microenvironment, which refers to the actors and forces that directly affect a company's ability to serve its customers. The power of suppliers can significantly impact the profitability of an industry, as they can limit the supply of critical materials and raise prices, thereby reducing the industry's overall profitability.

Suppliers Are Important Actors in the _______ as Powerful Suppliers