Why Do the Porter's Five Forces of Competition Explain the Attractiveness

question 54

Essay

Why do the Porter's five forces of competition explain the attractiveness of the industry?

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Definitions:

Affective Action

Actions driven by emotions and feelings rather than rational calculations.

Qualified Personnel

Refers to individuals who are officially recognized as being skilled or competent in their profession or occupation through education, training, and experience.

Hierarchy

A system of organizing or classifying people, entities, or concepts based on levels of importance, authority, or status.

Bureaucracy

An organizational structure characterized by hierarchical authority, a clear division of labor, explicit rules, and impersonality in personnel matters.