Which concept refers to the idea of "survival of the fittest" as applied to businesses?

The concept that refers to "survival of the fittest" as applied to businesses is Social Darwinism. This idea originated in the late 19th century and was used to describe the belief that competition among businesses serves as a natural selection process. Just as Charles Darwin's theory of natural selection suggests that only the strongest organisms survive, Social Darwinism posits that only the most competitive businesses thrive in the marketplace.

This framework implies that businesses must adapt to their environment, innovate, and operate efficiently to succeed. Social Darwinism was often used to justify economic inequalities, suggesting that those businesses that fail to compete effectively do so because they are inherently weaker or less capable.

While capitalism, competitive market theory, and free enterprise concepts are related to economic systems and practices, they do not specifically encapsulate the idea of evolutionary competition in the same way that Social Darwinism does. Capitalism emphasizes private ownership and market forces, competitive market theory focuses on market dynamics and consumer choice, and free enterprise relates to the freedom to operate businesses with minimal government interference.