Regarding Components and Elements of the Firm's Business Architecture, Which $\rightarrow$

Regarding components and elements of the firm's business architecture, which of the following represents the logical direction of causality (i.e., in terms of which component/element drives another component/element) generally runs as follows (indicated by arrows) :

A) macroeconomic & fin.market environments $\rightarrow$ internal legal & governance structures.
B) diversification versus focus $\rightarrow$ industry characteristics.
C) business strategies and growth opportunities $\rightarrow$ financial market environment.
D) size and capital intensity $\rightarrow$ macroeconomic & financial market environments.