Discuss the Difference Between a Company's Existing Direct Competitors and Its

question 97

Essay

Discuss the difference between a company's existing direct competitors and its substitutes and discuss the role substitutes play in an industry.

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Definitions:

Genotype

The set of genes in our DNA which is responsible for a particular trait, as opposed to the physical expression of those genes which is known as the phenotype.

Phenotype

The collection of traits that can be seen in a person, which emerge from how their genetic makeup interacts with their surroundings.

Pleiotropy

The phenomenon where a single gene influences multiple phenotypic traits in an organism, demonstrating the complex nature of gene expression.

Defective Enzyme

An enzyme with an abnormal structure that prevents it from performing its biological function correctly.