Impact of Industry Analysis on Business and Economy

• It has no impact on businesses or the economy.
• It provides insights into market trends and competitive forces, helping businesses make strategic decisions. (correct)
• It primarily focuses on historical data, thus providing limited value to businesses and the economy.
• It only affects businesses by increasing operational costs, but does not impact the economy.

• To create obstacles for new entrants into the industry.
• To overlook market trends and focus only on internal operations of businesses.
• To solely focus on cost-cutting measures for businesses.
• To identify opportunities and threats in the market environment. (correct)

• It focuses solely on short-term gains for businesses, neglecting long-term economic impact.
• It increases bureaucratic processes, hindering business growth and impacting the economy negatively.
• It restricts businesses from adapting to changing consumer preferences, thus affecting the economy unfavorably.
• It enables businesses to anticipate and respond to changes in the market, influencing the economy. (correct)

<p>By providing valuable insights into customer needs, competitor behavior, and market dynamics. (C)</p> Signup and view all the answers