BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Power of Supplier
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Power of Customer
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Threats of Substitutes
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Competition of New Entrants
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Detailed explanation-1: -The main driver is the number and capability of competitors in the market. If there are many competitors offering undifferentiated products and services, this will reduce market attractiveness.
Detailed explanation-2: -Competitive capabilities have been defined as a plant’s actual performance relative to its competitors, with the most commonly investigated capabilities being quality, delivery, flexibility, and cost.
Detailed explanation-3: -These forces include the number and power of a company’s competitive rivals, potential new market entrants, suppliers, customers, and substitute products that influence a company’s profitability. Five Forces analysis can be used to guide business strategy to increase competitive advantage.
Detailed explanation-4: -In many sports, a competition number is used to identify and differentiate the competitors taking part in a competitive endeavour. For example, runners in a race may wear prominent competition numbers so that they may be clearly identified from a distance.
Detailed explanation-5: -Competitive rivalry This force examines how intense the competition is in the marketplace. It considers the number of existing competitors and what each one can do.