BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -Strategic groups. A set of firms emphasizing similar strategic dimensions and using a similar strategy is called a strategic group. The competition between firms within a strategic group is greater than the competition between a member of a strategic group and companies outside that strategic group.
Detailed explanation-2: -A strategic group is a set of firms emphasizing similar strategic dimensions to use a similar strategy. The strategic groups can be useful for analyzing an industry’s competitive, and diagnosing competition, positioning, and the profitability of firms within an industry.
Detailed explanation-3: -Any of the three dimensions of strategy-value, imitation or perimeter-can be the starting point of a strategic initiative. Several sequences of value, imitation and perimeter are possible, and each typifies a strategic development.
Detailed explanation-4: -A strategic group is a concept used in strategic management that groups companies within an industry that have similar business models or similar combinations of strategies.