According to Michael Porter, the nature of competitiveness in a given industry includes what force? A. Bargaining power of suppliers, vendors, and customers B. Rivalry among competing firms and potential banks to borrow money from C. Bargaining power of suppliers, distributors, and creditors D. Potential development of substitute products and bargaining power of consumers E. A comparative financial ratio analysis across competitors

Question

Social Studies

Jason Lutz

4 May, 02:05

According to Michael Porter, the nature of competitiveness in a given industry includes what force? A. Bargaining power of suppliers, vendors, and customers B. Rivalry among competing firms and potential banks to borrow money from C. Bargaining power of suppliers, distributors, and creditors D. Potential development of substitute products and bargaining power of consumers E. A comparative financial ratio analysis across competitors

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Madison · Answer 1

(D). Potential development of substitute products and bargaining power of consumers

Explanation:

According to Michael Porter, there are five forces that should be analyzed to determine the degree of competitiveness in any industry and they include; the bargaining power of suppliers, the bargaining power of consumers, threat of new entrants, threat of substitute products and the rivalry among competing firms in the industry.