Asked by Esmeralda Pimentel on Jul 07, 2024
Verified
Which of the following would most likely be a useful tool when analyzing future changes in an industry?
A) strategic priority analysis
B) customer value chain
C) inbound logistics
D) product life cycle
Strategic Priority Analysis
The process of identifying and ranking the most critical factors or goals that will drive a business's strategy and decision-making.
Inbound Logistics
The activities related to receiving, storing, and distributing inputs internally needed for production.
Product Life Cycle
The stages through which a product goes from its introduction to the market, growth, maturity, and eventually decline.
- Understand the tools and frameworks for analyzing future changes in an industry.
Verified Answer
GS
Gavin SuttonJul 10, 2024
Final Answer :
D
Explanation :
The product life cycle is a useful tool for analyzing future changes in an industry as it helps to identify where a product falls on the continuum of introduction, growth, maturity, and decline. This information can inform strategic decision-making about how to respond to changes and shifts in consumer demand and industry trends. Strategic priority analysis, customer value chain, and inbound logistics may also be useful tools in certain contexts, but they are less directly related to analyzing future changes in an industry.
Learning Objectives
- Understand the tools and frameworks for analyzing future changes in an industry.