The Nature and Strength of the Competitive Forces That Prevail

question 14

Multiple Choice

The nature and strength of the competitive forces that prevail in an industry is generally a joint product of

• A) the pressures induced by the market maneuvering and jockeying for buyer patronage that goes on among rival sellers in the industry.
• B) the threat that firms outside the industry will decide to enter the market.
• C) the attempts of companies in other industries to win buyers over to their own substitute products.
• D) competitive pressures stemming from the bargaining power of both suppliers and buyers.
• E) All of these.

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Definitions:

Methods Analysis

The study and evaluation of work methods to improve efficiency and productivity by eliminating waste, simplifying processes, and reducing costs.

Classical Stopwatch

Refers to a traditional, manual timing device used for measuring time intervals, particularly in scientific studies, sports, or manufacturing processes.

Visual Workplace

An organizational methodology that emphasizes the use of visual techniques and tools to communicate important information and maintain workplace organization.