Examlex
When a manufacturer uses computers to control ongoing physical processes, it is an example of ____________________.
Industry
Refers to the production of goods or services within an economy, typically classified into sectors based on their main source of revenue and activity.
Competitive Forces
Market dynamics that impact the competitive landscape, often analyzed through frameworks like Porter's Five Forces, including threats from new entrants, bargaining power of suppliers and buyers, threats from substitute products, and rivalry among existing competitors.
Porter
Often associated with Michael E. Porter, an economist who developed the Five Forces Framework to analyze competitive forces within an industry.
Framework
A basic structure underlying a system, concept, or text.
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