Match Zara's Use of IT to the Competitive Force It

question 56

Short Answer

Match Zara's use of IT to the competitive force it influences.
$$\begin{array} { | l | l | } \hline \text { Threat of new entrants } & \begin{array} { l } \text { Zara has a highly collaborative proup of } \\\text { desipners, sales people, and } \\\text { maruffacturing plarners who are } \\\text { supported by a unique IT that is hard for } \\\text { any retailer to replicate. }\end{array} \\\hline \text { Threat of substitute product } & \begin{array} { l } \text { IT enables Zara to turn around new } \\\text { products, reacting within } 3 \text { weeks to } \\\text { custoner's likes and dislikes. }\end{array} \\\hline \text { Bargaining power of suppliers } & \begin{array} { l } \text { Zara cuts and dyes much of its fabric, } \\\text { making it less dependent on those that } \\\text { provide fabric. }\end{array} \\\hline\end{array}$$

Know the conditions under which contracts can be void due to incapacity, insanity, or being under the influence of substances.

Distinguish between void and voidable contracts.

Understand the concept of necessaries and beneficial contracts of service for minors.

Identify the legal consequences of breaching contracts involving restrictive covenants or competition clauses.

---

Definitions:

Utility

An indicator of pleasure or contentment obtained from the acquisition and use of products and services.

Utils

A theoretical unit of measurement used in economics to quantify the amount of utility or satisfaction derived from consuming goods and services.

Indifference Curves

Graphical representations in economics, illustrating different combinations of goods or services among which a consumer is indifferent.

Ordinary Goods

Goods for which demand increases as consumer income increases and decreases as consumer income decreases, opposite to inferior goods.