Terry Washington recently started a new firm in the financial services industry. Prior to starting his firm, he spent considerable time doing research on the potential of the industry. The research that Terry was doing is called ________ analysis.
A) industry
B) sector
C) commercial
D) business
E) target market
Question 2
The choice of a prospector strategy for a business would be most appropriate when a firm:
A) operates in an uncertain business environment.
B) functions in a relatively stable business environment.
C) sells products that are in the maturity stage of the life cycle.
D) prefers a top-down decision making approach for management.
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