DB #3 - Author: Frederick Westfall There are five questions...

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Author: Frederick Westfall There are five questions for you to respond to this week. You should answer each thread that I leave by Wednesday then return between Thursday and next Sunday to answer at least two of your classmates' responses. You do not need to respond to this thread, just the five below. Author: Frederick Westfall Describe the five elements of Porter’s Competitive Forces Model and explain which one you think has the most impact on a business The five model of competition expands the arena for competitive analysis. Historically, when studying the competitive environment, firms concentrated on companies with which they competed directly. However, firms must search more broadly to recognize current and potential competitors by identifying potential customers as well as the firms serving them. Competing for the same customers and thus being influenced by how customers value location and firm capabilities in their decisions is referred to as the market microstructure. Understanding this area is particularly important, because in recent years industry boundaries have become blurred. Traditional competitors are constantly trying to outdo the other. They try to produce new products and services before the other company. New market entrants are a different breed of competitor. They can either enter a relatively easy
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This note was uploaded on 11/27/2010 for the course IS 3300 taught by Professor Pettey during the Spring '08 term at Troy.

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DB #3 - Author: Frederick Westfall There are five questions...

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