Draw the five forces model of competition and briefly describe the relevance of each of the five forces in determining the overall strength of competitive pressures a company faces. Which of the five competitive forces is typically the strongest?
What will be an ideal response?
The five forces framework holds that competitive pressures on companies within an industry come from five sources. These include (1) competition from rival sellers, (2) competition from potential new entrants to the industry, (3) competition from producers of substitute products, (4) supplier bargaining power, and (5) customer bargaining power. The strongest of the five competitive forces is often the rivalry for buyer patronage among competing sellers of a product or service.
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Unemployment benefits are excluded from gross income.
Answer the following statement true (T) or false (F)
A company that sells equipment through independent wholesalers wants to find out why sales are down in one region. An analyst is asked to interview the wholesaler in that region. This seems to be
A. part of a situation analysis. B. a bad practice, since the problem has not yet been defined. C. the beginning of a focus group interview. D. a case of gathering information that will be analyzed by a statistical package. E. None of these answers is correct.
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