Final answer:
The question is asked at the business level and pertains to determining a business's competitive strategy based on industry and market conditions.
Step-by-step explanation:
The question, "Given the business (es) we are in, how should we compete?" is asked at the business level. The question is asked at the business level and pertains to determining a business's competitive strategy based on industry and market conditions.
The question refers to determining the competitive strategy that a business should adopt based on its industry and market conditions. It involves making decisions regarding product selection, production process, output level, pricing, and labor utilization.
These decisions are highly influenced by the production and cost conditions facing the firm, as well as the market structure of the industry. Market structure, defined by factors such as market power, product similarity, and barriers to entry, plays a crucial role in shaping a business's competitive approach.