CAF-7 · Chapter 4 · Question 6 of 15
In strategic management, 'clusters of firms within an industry that have common specific assets and thus follow common strategies in key decision variables' are known as:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Strategic groups
Explanation
A strategic group consists of rival firms in the same industry that pursue similar competitive strategies, have similar resources, and target similar customer bases (e.g., luxury car manufacturers).
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