Which of the following is not one of the forces that affects industry competition, according to Porter's model for industry analysis?
A. Threats of new entrants.
B. Threats of substitute products and services.
C. Bargaining power of buyers.
D. Threats of government interference.
E. Bargaining power of suppliers.
D. Threats of government interference.
Strategic-management expert Michael Porter suggested in his Porter's model for industry analysis that business-level strategies originate in five primary competitive forces in the firm's environment: (1) threats of new entrants, (2) bargaining power of suppliers, (3) bargaining power of buyers, (4) threats of substitute products or services, and (5) rivalry among competitors.
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Which of the following is not considered to be a demographic characteristic?
A. age B. consumer confidence C. ethnicity D. gender E. education level
Chad has offered to take Miles into his accounting firm as a partner upon payment of $5,000 cash. In response, Miles says, "I'll give you $3,000 cash now and I will pay you the remainder in two months after I see whether things are working out as a partnership." In this case:
A) Miles has made a counteroffer; hence there is no contract. B) Miles has rejected the terms of the original offer, but there is still a contract. C) Chad is a merchant making a firm offer under Article 2 of the UCC. Hence there is a contract. D) any indefinite provisions in the contract between Chad and Miles will be supplied by Article 2 of the UCC.
Rapala VMC CorporationFinland-based Rapala VMC Corporation is the world's largest fishing lure manufacturer. It developed its first fishing lure--a cigar-shaped minnow--in 1962. The annual market for fishing lures in terms of retail sales is approximately $600 million. Rapala VMC garnered one-third of that amount in 2008. New lures must be introduced each year in order to stay competitive in this industry. Like other lure manufacturers, Rapala focuses on two questions in developing and making new lures: Does it work, and does it look good? Developing a new lure takes two or three years and involves extensive field testing by tournament professionals and fishing guides. At the annual fishing industry trade show in 2008, Rapala unveiled the "dream lure for the 21st century."Refer to Rapala.
Because buyers of fishing lures want to have the newest, most technologically improved lure, most of Rapala's customers would more than likely fall into the _____ category of adopters. A. laggards B. prompt diffusers C. early adopters D. innovators E. early majority
According to point one of Deming's 14 points for quality improvement, the responsibility of improving a firm's competitive position lies with ______
a. top management b. suppliers c. middle management d. employees