Question: Michael Porter suggested that managers view the environments in which they operate in terms of five competitive forces. These are the threat of new entrants,
Michael Porter suggested that managers view the environments in which they operate in terms of five competitive forces. These are the threat of new entrants, competitive rivalry, the threat of substitute products, the power of buyers, and the power of suppliers.
Using your knowledge of the environmental forces, indicate which environmental force is represented by each example.
tableThere are thousands of brands of craft beer.,tableNewEntrants Competitors Suppliers Buyers SubstitutestableThe local electric company is the only source of electricity in thecommunitytableIn and respectively, Amazon Handmade and FacebookMarketplace were launched as places where individuals could find buyersfor oneofakind items.A Starbucks opened around the corner from the local coffee shop.,Walmart makes large purchases from suppliers to stock inventory for its,customers
customers.
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