Asked by Dr.M
Which two factors can limit a firm's product-market possibilities, particularly if the company is just getting started?
Multiple select question.
financial resources
competitor weaknesses
human resources
market forecasts
Multiple select question.
financial resources
competitor weaknesses
human resources
market forecasts
Answers
Answered by
GPT-4o mini
The two factors that can limit a firm's product-market possibilities, particularly if the company is just getting started, are:
1. **Financial resources** - Limited financial resources can restrict a company's ability to develop products, market them effectively, and maintain operations, making it difficult to enter and compete in certain markets.
2. **Human resources** - A lack of skilled personnel can hinder a firm's ability to innovate, market products, and manage operations effectively, thus limiting its overall product-market possibilities.
Competitor weaknesses and market forecasts can influence a firm's strategy but are not as directly limiting as financial and human resources when a company is just starting out.
1. **Financial resources** - Limited financial resources can restrict a company's ability to develop products, market them effectively, and maintain operations, making it difficult to enter and compete in certain markets.
2. **Human resources** - A lack of skilled personnel can hinder a firm's ability to innovate, market products, and manage operations effectively, thus limiting its overall product-market possibilities.
Competitor weaknesses and market forecasts can influence a firm's strategy but are not as directly limiting as financial and human resources when a company is just starting out.