In the five forces model developed by Michael Porter,________ is not defined narrowly as a firm’s closest competitors but rather more broadly to include other factors in an industry, such as buyers, suppliers, the potential new entry of other firms, and the threat of substitutes.
Read DetailsBright-White has been the leader in denture-cleaning products for almost 40 years. However, the company has relied too long on its competency of cleaning dentures without refining or upgrading other aspects of its product. As a result, other denture-cleaning companies began to offer denture-cleaning products with all-natural whitening agents and anti-bacterial agents, which helped them gained a competitive advantage over Bright-White. This case is an example of
Read DetailsChandani is the founder of a firm producing self-driving vehicles. Because the industry is so new and chaotic, Chandani favors a top-down strategic planning approach in which she exerts strong control over all aspects of the business, from product development and design to manufacturing and marketing. What is wrong with this scenario?
Read DetailsTo reduce the amount of time it takes to apply packaging to its finished products, North Star Foods is implementing new equipment at its production plants. By doing this, North Star is addressing a________ in the value chain analysis.
Read DetailsToy sales have declined by 10 percent each year, forcing many retailers to exit the industry. To eliminate its remaining competition, Terrific Toys sells all of its product at a loss and relies on its significant cash holdings to cover costs until its competition is forced to exit the industry. Is this an example of a successful strategy? Why or why not?
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