In the _____ Developed by Michael Porter,competition Is Not Defined

question 97

Multiple Choice

In the _____ developed by Michael Porter,competition is not defined narrowly as a firm's closest competitors but rather more broadly to include other factors in an industry like buyers,suppliers,potential new entry of other firms,and the threat of substitutes.

• A) PESTEL framework
• B) VRIO framework
• C) five forces model
• D) value chain analysis

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Definitions:

Net Income and Losses

The total profit or loss a company experiences over a specific period, calculated as total revenues minus total expenses.

Liquidation

The process of winding up a company's financial affairs by selling off its assets to pay off its debts, ultimately leading to the company's dissolution.

Installment Program

A payment plan allowing customers to purchase goods by making a series of payments over time until the total debt is paid.

Liquidation Transactions

Sales or disposals of assets by a company, typically occurring when the company is ceasing operations, to pay off creditors and distribute any remaining assets to shareholders.