According to the Business Strategy Model Developed by Harvard Business

question 136

Multiple Choice

According to the business strategy model developed by Harvard Business professor Michael Porter's, an industry's profit potential is largely determined by _____________.

• A) The intensity of competitive forces within the industry
• B) Availability of necessary resources to produce the product/service
• C) Technological proficiency of companies in the industry
• D) Availability of skilled and unskilled labor

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Definitions:

Arcsin Transformation

A data transformation technique used to stabilize the variance when the data follow a binomial distribution.

Categorical Variable

A variable that can take on one of a limited, and usually fixed, number of possible values, assigning each individual to a particular group or nominal category.

Quantitative Variable

A type of variable that represents measurable quantities and can be expressed in numeric values.

Time Plots

Charts that display values against time, allowing for the observation of trends, patterns, and seasonal variations in data series.