Answer:
False
Explanation:
Porter's Five Forces framework is a list of factors which provide an explanation to the forces affecting competition in industries. These five forces include;
1. Competition in the industry
2. Potential of new entrants into the industry
3. Power of suppliers
4. Power of customers
5. Threat of substitute products
Over the years, these five forces have been used in explaining the structure of certain industries. The framework however has limitations, some of which include,
1. It is not in terms with current realities, such as new advancements in technology which were not available as at the time the framework was formed.
2. Some companies operate different structures, whereas, the framework classifies each industry under one structure.
3. There is the possibility of industries to give equal consideration to all five factors, whereas in reality only some of the factors might be applicable to them.
4. Individual companies instead of industries now use the framework to make their business analysis which is not the real reason for the development of the framework. It was meant for industries as a whole.
Answer:
committee
Explanation:
<u>The process in which a whole collection is involved in making the best and most rational decision is called committee decision making.</u>
<u>These committees should decide jointly about the best strategic arrangement, and the whole process should be done in agreement, unity, and harmony.</u> Members should have the spirit of collectivism, should respect other people's decision and all share their input regarding the decision.
Answer:
Option (B) is correct.
Explanation:
Unit of account:
There are some functions of money or we can say that characterstics of money:
(a) Medium of exchange
(b) Store of value
(c) Unit of account
(d) Standard of deferred payments
Sea shells are precious items but one cannot properly split divide those sea shells into small denominations like money does. Money is easily storable, people use as a medium of exchange and unit of account.
By unit of account we mean that we can easily measure the value of goods and service and many things in monetary terms but we cannot measure in terms of sea shells.
That's why sea shells unfit to act as money today.
Answer: Effective Managers.
Explanation:
An effective manager is a manager that delivers successfully on tasks that he is in charge of and is very good in decision making. Manuel is well known for his ability to meet his objectives set and accurate decision making.
