Name and Describe Four of the Six Industry Forces That

question 37

Essay

Name and describe four of the six industry forces that shape the attractiveness of a competitive environment.

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Definitions:

Promisee

The person to whom a promise is made in a contract, to whom the promisor has an obligation.

Promissory Estoppel

A legal principle that prevents a person from going back on a promise, even if it was not formally made as a contract, if it was reasonable to rely on that promise and doing so caused harm.

Refund

A repayment to someone of money they have previously paid.

Legal Obligation

A duty enforced by law whereby an individual or entity is required to perform or refrain from performing a certain action.