According to Michael Porter, There Are Five Determinants of Competition

question 11

Multiple Choice

According to Michael Porter, there are five determinants of competition. An example of _____ is the threat new competitors pose to existing competitors in an industry.

• A) threat of entry
• B) rivalry between existing competitors
• C) pressure from substitute products
• D) bargaining power of buyers
• E) bargaining power of suppliers

Explain the principles and practices of collective bargaining.

Understand the impact of unions on employee turnover, productivity, and organizational features.

Comprehend the legal framework and administration of labour relations.

Identify the types and features of unions and their effect on labour relations.

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Definitions:

Managerial Accounting Report

Detailed reports that provide managers with financial information and analysis used for decision-making and operational control.

Production Equipment

Tools and machinery used in the production process to manufacture products or provide services.

Factory Overhead

The indirect costs associated with manufacturing, excluding direct materials and direct labor expenses.

Current Asset

Resources anticipated to be transformed into cash, disposed of, or utilized within one year or during the business's standard operating period.