The tool appropriate for the third step of the small business strategy process to study the dynamics and trends of your industry is the
A)value chain analysis.
B)SWOT analysis.
C)VRIO analysis.
D)industry analysis.

Question

Quizplus · Accepted Answer

The appropriate tool for studying the dynamics and trends of an industry is industry analysis. This tool helps in understanding the competitive environment, market trends, and other factors that affect the industry. It includes analyzing the industry's structure, key players, growth rate, and future prospects. Thus, industry analysis is the best choice for the third step of the small business strategy process.

The Tool Appropriate for the Third Step of the Small