Describe the Five Forces in Michael Porter's Model of the Competitive

question 59

Essay

Describe the five forces in Michael Porter's model of the competitive environment.

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Definitions:

Discretionary Responsibility

The ethical or societal obligation of a company to make decisions and take actions that will benefit the interests of society as well as the organization.

Corporate Social Responsibility

The practice of businesses taking responsibility for their impact on society and the environment, beyond regulatory compliance and profit-making.

Economic Requirements

The financial needs or conditions necessary to sustain or initiate a business, project, or standard of living.

Ethical Followership

The practice of supporting leaders and contributing to a group or organization in a manner that is consistent with ethical principles.