Transcription of THE COMPETITIVE NEIGHBORHOOD - CSUSB …
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THE COMPETITIVE NEIGHBORHOOD - CSUSB …
11 COMPETITIVE Neighborhoods A firm does not compete against all other firms in the economy. Rather, a firm competes with those firms within the firm s COMPETITIVE NEIGHBORHOOD . The extent of competition the virulence of competition a firm faces can vary tremendously in different COMPETITIVE neighborhoods. THE COMPETITIVE NEIGHBORHOOD One component of a firm s COMPETITIVE NEIGHBORHOOD is a subset of competitors in the same industry of the firm. An industry is a collection of business firms selling goods and services that are similar but not necessarily identical to each other. Such product are, not surprisingly, generally fairly good substitutes for one another. Table 1 presents information about 22 of the over 1,200 industries found in North America. These industries are those defined in the North American Industry Classification System (NAICS).
11 Competitive Neighborhoods A firm does not compete against all other firms in the economy. Rather, a firm competes with those firms within the firm’s “competitive neighborhood.”
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