Final answer:
A strategic group is a set of competitive firms emphasizing similar strategic dimensions and using a similar strategy.
Step-by-step explanation:
In business, a set of competitive firms emphasizing similar strategic dimensions and using a similar strategy is known as a strategic group.
A strategic group consists of businesses within the same industry that compete against each other and offer similar products or services.
For example, in the smartphone industry, Apple and Samsung are two highly competitive firms operating within the same strategic group as they both emphasize similar strategic dimensions (e.g., product innovation, brand quality) and use a similar strategy (e.g., premium pricing, global distribution).