Every business is characterized by a set of controllable variables called ________ that determines the relative success (or lack of it)of market participants.

Question

Quizplus · Accepted Answer

Key success factors refer to the set of controllable variables that determine the relative success of market participants. These can include factors such as quality of products or services, customer service, brand reputation, and pricing strategy. Distinctive competencies and competitive edge are related concepts that refer to unique strengths or advantages that a business may have over its competitors. Opportunities and threats are external factors that may impact a business, but are not controllable by the business itself.

Every Business Is Characterized by a Set of Controllable Variables