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Management · Q332

Strategic Management

Graduate and Post Graduate · Management · question 332

Q332

Industry boundaries are blurring at an incredible rate as companies are recognizing that new opportunities lie at the intersection of two or more industries this is called ________.

A.
globalization
B.
customization
C.
Industry convergence
Answer
D.
heightened competition

Answer: Option C

Solution

Answer: Option C
Solution:
Industry boundaries are blurring at an incredible rate as companies are recognizing that new opportunities lie at the intersection of two or more industries this is called industry convergence. Industry convergence represents the most fundamental growth opportunity for organizations and will redefine industry boundaries by shifting the focus from individual products to cross-industry value experiences, based on digital business principles.