BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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increased deregulation in an industry
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the threat of government intervention
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rivalry among competing firms
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recent technological innovation
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Detailed explanation-1: -Industry rivalry-or rivalry among existing firms-is one of Porter’s five forces used to determine the intensity of competition in an industry. Other factors in this competitive analysis are: Barriers to entry.
Detailed explanation-2: -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-3: -According to Porter, Rivalry among competing firms is usually the most powerful of the five competitive forces.
Detailed explanation-4: -The five forces are: competitive rivalry, new entrants, power of buyers, power of suppliers and threat of substitutes.
Detailed explanation-5: -It can be defined as the competition that goes on between firms as they try to increase their market share. For example, this can be viewed as the competition that the cooperative faces when members look elsewhere to gin their cotton, sell their products or purchase their supplies.