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Michael EPorter,a Leading Theorist of Competitive Strategy,developed a Five Forces Model

question 61

Essay

Michael E.Porter,a leading theorist of competitive strategy,developed a five forces model to explain competition in an industry.List these forces and describe the impact of the threat of new entrants.


Definitions:

Two-Tiered System

A system or structure that has two distinct levels of operation, authority, or importance.

Class Action Arbitration

A form of arbitration that allows a group of individuals with similar legal claims to arbitrate their disputes collectively rather than individually.

Federal Arbitration Act

U.S. federal law that provides the legal foundation for the enforcement of arbitration agreements and governs the conduct of arbitration proceedings.

Summary Jury Trial

A shortened trial that serves as an alternative dispute resolution method, involving a jury which listens to a summary of the case and renders an advisory verdict.

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