Identify the Five Competitive Forces That Determine Industry Profitably

question 15

Essay

Identify the five competitive forces that determine industry profitably. Explain the purpose of analyzing these forces.

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Definitions:

Law Of Effect

A principle of behaviorism stating that actions which produce satisfying outcomes are more likely to be repeated, while those that produce unpleasant outcomes are less likely to be repeated.

Behaviour Control

Management practices that regulate employee actions to align with organizational goals through policies, procedures, and monitoring.

Law Of Immediate Reinforcement

The principle that a reward should be given as soon as possible after a desired behaviour occurs.

Punishment

Discouraging behaviour by making an unpleasant consequence contingent on its occurrence.