Changes in competitors,sales and profits in an industry over time are referred to as:
A) industry dynamics.
B) retrenchment.
C) shake-out.
D) transformational competency.

Question

Quizplus · Accepted Answer

Changes in competitors, sales, and profits over time are referred to as industry dynamics. This term captures the ongoing and dynamic changes that occur within an industry over time, including shifts in consumer preferences, changes in technological capabilities, and the entry and exit of firms within the market. Retrenchment refers to a strategy of reducing costs or downsizing operations in order to improve financial performance. Shake-out refers to a period of intense competition in which weaker firms are forced to exit the market, leaving behind a smaller number of dominant players. Transformational competency refers to a company's ability to adapt to changing market conditions and technologies, and to innovate in order to remain competitive.

Changes in Competitors,sales and Profits in an Industry Over Time