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3 years ago

What is the Porter's 5 forces model?

Business

1 answer:

neonofarm [45]3 years ago

4 0

Answer:

Created by a Professor Michael E. Porter, from Harvard, this model explains the various forces applied to a business.

Competition in the industry : Are there competitors in the industry? If so, are they numerous and weak or is the industry dominated by a few major players?

Potential of new entrants into the industry : What's the risk of having new competition? If you are selling a product, can you protect it with a patent for example?

Power of suppliers : Can the suppliers of what you need easily affect the prices? It's basically asking if there is competition in your suppliers' market.

Power of customers : That related to your customer base. If your customer base is large, chances are no individual will be able to force your price down. But if you are dealing with a limited number of customers, one of them might force you to lower your prices.

Threat of substitute products: Is there any comparable product/service offered at a lower cost that might bring your prices down?

You might be interested in

Provide responses to the following questions 1. What is the purpose of a staffing management plan? What does it address?

ryzh [129]

Answer:

Explained below:

Explanation:

A staffing management plan refers to the plan produced to help businesses primarily identify and later procure the workers at all levels and in all departments of the business organization. The purposes of a staffing management plan to :

Classify staffing needs.

Build timelines.

Establish funds considerations.

Devise and implement talent acquisition strategies.

Construct and execute an on boarding schedule.

Identify and design suitable training bodies and methods.

Follow the plan until it reaches effectiveness.

It addresses the requirements of the organization in many ways, depending upon its business model, its structure, and the system in which it finishes projects and reaches deadlines.

4 0

4 years ago

Which activity at the grocery store would not involve mathematics? finding out?

gogolik [260]

1. (B) choosing what kind of apple to buy2. (A) calculate the total cost of the item when not on sale and subtract the sales cost3. (C) $3.484. (A) $12.33

3 0

4 years ago

Other things being equal, an increase in the number of sellers of a good will _____ for that good.

Ahat [919]

Answer:

The correct answer is letter "C": decrease equilibrium price and increase equilibrium quantity .

Explanation:

An increase in the number of sellers in a market of a certain good implies the quantity demanded for that good will increase, thus the equilibrium quantity will be higher. According to the demand law, if the quantity demanded goes up, the price is likely to decrease, so, the equilibrium price will be lower.

Thus, <em>the increase in sellers will raise the equilibrium quantity decreasing the equilibrium price.</em>

5 0

4 years ago

If the MPC is 0.8, the Marginal Propensity to Save is?

TEA [102]

Answer:

0.2

Explanation:

Data provided in the question

Marginal propensity to consume (MPC) = 0.80

Based on the given information, the marginal propensity to save is

As we know that

Marginal propensity to consume (MPC) + Marginal propensity to save (MPS) = 1

where,

Marginal propensity to consume (MPC) is 0.8

So, the marginal propensity to save is

= 1 - 0.8

= 0.2

5 0

3 years ago

There are 6 cities (1-6) in Araxi County. The county must determine where to build fire stations. The county wants to build the

nikdorinn [45]

Answer:

Look at the two attached figures please. The decision variables is the choice to build a fire station in which city.

So there are six decision variables each taking a value of either 0 or 1.

D1 = decision to build fire station in city 1, (1 denotes yes and 0 denotes no)

D2 = decision to build fire station in city 2, (1 denotes yes and 0 denotes no)

D3 = decision to build fire station in city 3, (1 denotes yes and 0 denotes no)

D4 = decision to build fire station in city 4, (1 denotes yes and 0 denotes no)

D5 = decision to build fire station in city 5, (1 denotes yes and 0 denotes no)

D6 = decision to build fire station in city 6, (1 denotes yes and 0 denotes no)

Please look at attachment

C .

The figure 1 denotes the problem formulation in excel and shows all the formulas.

In first step, a matrix is prepared to denote all cities which are within 15 minutes by 1 and others by zero

A array of decision variables for selecting the city is shown. A 1 in cell implies that city is selected and 0 means the city is not selected.

A product of the selection variable and the value in the within 15 minutes matrix is calculated as shown by the formula.

The constraint is to ensure that all cities have at least one fire station mapped within 15 minutes.

The problem is solved in Excel using integer programming and the solution is that City 2 and 4 should be selected for building fire stations and thus total no of fire stations are two with every city within 15 minutes.

Explanation:

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3 years ago