Which of the Following Statements Is True of Understanding an Industry

Multiple Choice

Which of the following statements is true of understanding an industry?

A) If managers do not properly define and understand their industry, they may be vulnerable to unseen competitors.
B) Truly understanding an industry often begins by taking a product-oriented view.
C) Firms should avoid choosing to compete in several markets at the same time.
D) Identifying an industry based on the product or service provided is the best way to understand the industry.