According to the Five Forces Model Developed by Harvard University

question 130

Multiple Choice

According to the Five Forces Model developed by Harvard University Business professor Michael Porter,all of the following are major factors that determine a company's standing in an industry,except:

• A)Competitive rivalry among firms existing in the industry
• B)Bargaining power of suppliers
• C)Bargaining power of customers or buyers
• D)Technological (IT)superiority

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Definitions:

Postindustrial Societies

Societies characterized by an economy where the service sector produces more wealth than the manufacturing sector.

Economic Sector

A segment of the economy that encompasses businesses and organizations sharing similar activities, products, or services.

Service Sector

The segment of the economy that involves providing intangible goods or services to consumers and businesses, such as healthcare, education, and banking.