Differentiate Between Porter's Competitive Forces Model and His Value Chain

question 76

Short Answer

Differentiate between Porter's competitive forces model and his value chain model.

---

Definitions:

Marginal Utility

The additional utility, or satisfaction, derived from consuming an additional unit of a good.

Public Policy

Encompasses laws, regulations, and government actions designed to address certain societal issues or objectives.

Health-Care Industry

Comprises sectors providing medical services, manufactures medical equipment or drugs, provides medical insurance, or otherwise facilitates the provision of healthcare to patients.

Price Elasticity

a measure of the responsiveness of demand or supply to changes in price, indicating how quantity demanded or supplied reacts to price variations.