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Questions and Answers
What does competitive strategy focus on?
What does competitive strategy focus on?
- Analyzing industries and competitors (correct)
- Minimizing costs
- Market expansion
- Maximizing profits
What is the primary purpose of analyzing industries and competitors in competitive strategy?
What is the primary purpose of analyzing industries and competitors in competitive strategy?
- To minimize employee turnover
- To increase customer satisfaction
- To maximize shareholder wealth
- To identify opportunities and threats (correct)
Why is it important to analyze competitors in competitive strategy?
Why is it important to analyze competitors in competitive strategy?
- To imitate their every move
- To understand their strengths and weaknesses (correct)
- To ignore their strategies
- To solely focus on internal capabilities
