Using the Five-Forces Model of Competition to Determine the Character

question 44

Multiple Choice

Using the five-forces model of competition to determine the character and strength of the competitive forces within a given industry involves

• A)building the picture of competition in two steps: (1)determining which rival has the biggest competitive advantage and (2)assessing whether the competitive advantages possessed by various industry members allow most industry members to earn above-average profits.
• B)building the picture of competition in three steps: (1)identify the different parties involved,along with specific factors that bring about competitive pressures; (2)evaluate how strong the pressures stemming from each of the five forces are (strong,moderate or weak);and (3)determining whether the collective impact of the five competitive forces is conducive to earning attractive profits in the industry.
• C)gauging the overall strength of competition based on how many industry rivals are operating with a competitive advantage and how many are operating at a competitive disadvantage.
• D)assessing whether the collective impact of all five forces is weak enough to allow industry members to go on the offensive or use a defensive strategy to insulate against fierce competitive pressures.
• E)evaluating whether competition is being intensified or weakened by the industry's driving forces and key success factors.

Comprehend the differences between various types of tests, including aptitude, achievement, and intelligence tests.

Recognize the relevance of test settings and their impact on test outcomes.

Understand the concept of psychological test as a sample of behavior.

Differentiate between the general categories of psychological tests.

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Definitions:

Disposed

Refers to the act of selling, throwing away, or giving away property, or the dealing with something that is no longer useful or required.

Gain

Refers to the increase in wealth or resources, typically measured in financial terms and often realized through investment or sale of assets.

Plant Asset

Long-term tangible assets used in the production of goods or services, including machinery, buildings, and equipment.

Depreciation

The methodical distribution of the expense of a physical asset across its expected lifespan.