Michael EPorter,a Leading Theorist of Competitive Strategy,developed a Five Forces Model

question 61

Essay

Michael E.Porter,a leading theorist of competitive strategy,developed a five forces model to explain competition in an industry.List these forces and describe the impact of the threat of new entrants.

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Definitions:

Progression

refers to the process of developing, advancing, or moving forward, whether in terms of career, skills, or achievements.

Withdrawal

A psychological or physical retreat from a situation, relationship, or obligation.

Progression

Refers to the act of moving forward or advancing towards a more developed state or stage.

Stimulating Performance

The process of encouraging or motivating employees to improve their work output or to perform at a higher standard.