Which of the Following Is an Element of Michael Porter's

question 50

Multiple Choice

Which of the following is an element of Michael Porter's model for analyzing the competitive environment of an organization?

• A)Substitutes
• B)Cost strategy
• C)Societal trends
• D)Regulatory forces
• E)Demographics

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Definitions:

Differentiation

The process of distinguishing a product, service, or business from competitors in order to attract a particular target market.

Cost Leadership

A business strategy focusing on gaining advantage by reducing production or service costs below those of competitors.

Transnational Strategy

A business strategy that involves operating globally but with responsiveness to local needs and preferences.

Global Operations

The activities conducted by an organization to manage its business across various countries worldwide.