BUSINESS ADMINISTRATION
MANAGEMENT INFORMATION SYSTEM
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Supplier
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Customer
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Competitors
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Government
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Detailed explanation-1: -Government is not one of the five forces that was identified by Porter in his framework. Government does affect a business but it does not have a huge or direct impact on one particular business. Porter Identified the forces that were specific to every particular business in general.
Detailed explanation-2: -Porter’s (1980) five-force model suggests that firms need to assess the relative power and influences of their key stakeholders, including customers, suppliers, competitors, new entrants, and substitute producers.
Detailed explanation-3: -Political factor is not one of the Porter’s five force factor. The Porter’s five forces tool is a simple but powerful tool to evaluate the power of business. Porter’s Forces Analysis assumes that there are important forces that determine competitive power in a business situation.
Detailed explanation-4: -Solution(By Examveda Team) Threats of technological advances is not one of Porters five competitive forces.