Using Porter's Competitive Forces Model, Contrast the Bargaining Power of Suppliers

question 1

Short Answer

Using Porter's competitive forces model, contrast the bargaining power of suppliers and the bargaining power of customers (buyers).

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Definitions:

Indirect Payments

Financial transactions where compensation is not directly delivered from payer to recipient but through an intermediary or additional benefits, such as health insurance or retirement plans.

Salary

A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee, especially a professional or white-collar worker.

Wages

Monetary compensation paid by an employer to an employee in exchange for work performed, typically calculated on an hourly, daily, or weekly basis.

Bonuses

Additional compensation rewards given to employees as recognition for good work or achievements beyond their regular pay.