Examlex
In the 1990s, Porter added a sixth force to his five forces framework. Describe that sixth force and give an example of its use in determining a firm's strategy.
Meaning
The significance, purpose, or understanding associated with something, often influencing individuals' perceptions and actions.
Competence
The ability of an individual or organization to effectively perform or achieve a specific task or goal.
Impact
The strong influence or effect that something, especially a particular action, event, or decision, has on another thing or person.
Providing Direction
The act of guiding or managing others by setting goals, making decisions, and leading by example towards achieving objectives.
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