An impact that the changing industry boundaries have had is that:
A)owners of companies can now defme boundaries.
B)there is an increase in the number of competitors for companies.
C)technological changes do not affect companies anymore.
D)the pattern of customer needs does not affect companies anymore.
E)the number of product substitutes available for customers has reduced.

Question

An impact that the changing industry boundaries have had is that:
A)owners of companies can now defme boundaries.
B)there is an increase in the number of competitors for companies.
C)technological changes do not affect companies anymore.
D)the pattern of customer needs does not affect companies anymore. 
E)the number of product substitutes available for customers has reduced.

Quizplus · Accepted Answer

The changing industry boundaries have resulted in the blurring of lines between industries, leading to an increase in the number of competitors for companies. As a result, companies need to constantly adapt and innovate to stay relevant and competitive in the changing landscape. The other options are incorrect as owners of companies have always been able to define boundaries, technological changes still affect companies, and the pattern of customer needs remains important in shaping business strategies. The number of product substitutes available for customers could increase or decrease depending on the changes in industry boundaries.

An Impact That the Changing Industry Boundaries Have Had Is