INTRODUCTION TO ENTREPRENEURSHIP
TYPES OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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This is the rivalry among businesses for customers. It forces companies to operate efficiently while keeping prices down and quality up.
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Industrialization
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Competition
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Supply
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Demand
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Explanation:
Detailed explanation-1: -Porter’s Intensity of Rivalry Definition The intensity of rivalry among competitors in an industry refers to the extent to which firms within an industry put pressure on one another and limit each other’s profit potential.
Detailed explanation-2: -When rivalry is weak, most companies in the industry are relatively well satisfied with their sales growth and market shares and rarely undertake offensives to steal customers away from one another. Weak rivalry means that there is no downward pressure on industry profitability due to this particular competitive force.
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