The strategically relevant factors outside a company's industry boundaries-economic conditions, politicalfactors, sociocultural forces, technological factors, environmental factors, and legal/regulatory conditions-are known as○ the competitive market environment that exists between a company and its competitors.O the industry and the competitive arena in which the company operates.O the dominant economic features of a company's industry.○ general economic conditions plus the factors driving change in the markets where a company operates.O a company's macro-environment. Winning a sustainable competitive edge over competitors does not hinge on which of the following?○ having hard-to-beat capabilities and impressive product innovation○ building products and distributing them at low prices to a broad customer base irrespective of manufacturing cost○ having a distinctive competitive product offering○ building competitively valuable expertise and capabilities not readily matched and offering distinctive products○ building experience, know-how, and specialized capabilities that have been perfected over a long period of time

The correct answer is : a company's macro-environment. The term "company's macro-environment" refers…

Answered: The strategically relevant factors…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Pick a company and discuss the following:1. Discuss factors affecting a competitor's likelihood to take competitive actions.2. Describe factors affecting the likelihood a competitor will respond to actions taken by its competitors.3. Explain competitive dynamics in slow-cycle, in fast-cycle, and in standard-cycle markets.
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