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navik [9.2K]
3 years ago
10

Organizations evaluate the five competitive forces at play in their industry and judge the strength and weakness of these forces

. Organizations then determine how they intend to respond to these​ forces, leading to determining the​ _______________.A. competitive strategyB. industry attack profileC. industry structureD. rivalry positioningE. industry response
Social Studies
1 answer:
mylen [45]3 years ago
8 0

Answer: Competitive Strategy

Explanation:

Competitive Strategy is a long term strategy put in place by a business that could give them competitive advantage over their rival industry through evaluating their strength and taking advantage of their area of weaknesses.

This strategy is most beneficial when a company finds it self in a very competitive market saturated with substitute goods and product competing for customers. In a competitive market it might be very difficult for a business to survive without having a well structured competitive strategy in place.

There are four types of Competitive Strategy.

• Differentiation

•Product leadership.

•Cost leadership.

•Operation excellence.

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