Every business is characterized by a set of controllable variables that determines the relative success (or lack of it)of market participants called ________.
A)distinctive competencies
B)key success factors
C)opportunities and threats
D)competitive edge

Question

Quizplus · Accepted Answer

Key success factors are the set of controllable variables that determine the relative success or failure of businesses in a particular market. These factors could vary depending on the industry, and a deep understanding of these factors is necessary for businesses to develop strategies that can give them a competitive edge in the market. Option A, distinctive competencies, refer to a company's unique strengths or advantages that set it apart from its competitors. Option C, opportunities and threats, refer to the external factors that could either positively or negatively impact a business. Option D, competitive edge, is a general term used to describe any advantage that a business has over its competitors. While all of these options are important concepts in business, key success factors are the most directly related to determining a company's success or failure in a given market.

Every Business Is Characterized by a Set of Controllable Variables