Podcast
Questions and Answers
Which of the following best describes the relationship between competition and strategy?
Which of the following best describes the relationship between competition and strategy?
- Competition is a random occurrence that affects strategy.
- Competition is a minor consideration in strategy.
- Competition is a fundamental aspect of strategy. (correct)
- Competition is a negative aspect of strategy.
What does competition in a market involve?
What does competition in a market involve?
- Only the potential new entrants.
- Only the existing players in the industry.
- Only the customers and suppliers.
- The industry's underlying economics. (correct)
What determines the level of competition in an industry?
What determines the level of competition in an industry?
- The level of customer demand.
- The number of existing players in the industry.
- The industry's profit potential. (correct)
- The industry's underlying economics.
What is the impact of intense competition and easy entry for new players in a "perfectly competitive" industry?
What is the impact of intense competition and easy entry for new players in a "perfectly competitive" industry?
Which industries are more likely to offer higher profit opportunities?
Which industries are more likely to offer higher profit opportunities?
What are the five key forces that determine the level of competition in an industry?
What are the five key forces that determine the level of competition in an industry?
In a perfectly competitive industry, what is the impact of intense competition and easy entry for new players?
In a perfectly competitive industry, what is the impact of intense competition and easy entry for new players?
Which industries are more likely to offer higher profit opportunities?
Which industries are more likely to offer higher profit opportunities?
What does competition in a market involve?
What does competition in a market involve?
Why is competition in an industry not just random or bad luck?
Why is competition in an industry not just random or bad luck?
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