Identify the Six Forces That Shape Competition in an Industry

question 72

Essay

Identify the six forces that shape competition in an industry. Describe how changes in the strength of these forces affects prices, profitability, and under which circumstances each can be considered a threat or opportunity. Why is a competitive analysis using the competitive forces framework a benefit to industry?

Define statutory benefits and their importance within the HR function.

Understand the primary benefits of establishing an employment office within organizations.

Understand the implications of the National Labor Relations Act on HR practices.

Appreciate the challenges and image problems faced by early personnel departments and the strides made to overcome them.

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Definitions:

Terminal Cisternae

Enlarged areas of the sarcoplasmic reticulum around the muscle's transverse tubules involved in calcium storage and release.

T-tubules

Tubular extensions of the cell membrane into muscle cells, facilitating rapid transmission of action potentials to ensure efficient contraction.

Desmosomes

Specialized cell structures that function as anchors, attaching cells together within tissues like the skin and heart muscle.

Gap Junctions

Specialized cell-to-cell connections that allow for the direct passage of ions, molecules, and electrical impulses between adjoining cells.