The Most Powerful and Widely Used Tool for Diagnosing the Principle

question 74

Multiple Choice

The most powerful and widely used tool for diagnosing the principle competitive pressures in a market is:

• A) the five forces framework.
• B) PESTEL.
• C) the driving forces model.
• D) strategic group mapping.
• E) competitor analysis.

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Definitions:

Scanlon Plan

A type of employee incentive plan that focuses on sharing the cost savings or productivity gains with the workers.

Psychological Ownership

The feeling of possessorship and of being psychologically tied to an object, job, or workplace, which can influence attitudes and behaviors.

Legal Ownership

The official right to possess or use property based on a legal framework which recognizes one's claim to the asset.

Scientific Management

A management theory that analyzes and synthesizes workflows to improve economic efficiency, particularly labor productivity.