Using Porter's Competitive Forces Model, Contrast the Bargaining Power of Suppliers

question 1

Short Answer

Using Porter's competitive forces model, contrast the bargaining power of suppliers and the bargaining power of customers (buyers).

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Definitions:

Uncertain Environment

A condition in which there is a lack of predictability or stability in the external or internal environment, affecting organizational strategies and decisions.

Intuition

The ability to understand or know something immediately, without the need for conscious reasoning or analysis.

Decision Making

The method of selecting options through recognizing a decision to be made, collecting data, and evaluating different solutions.

Five-Step Process

A methodical approach to problem-solving or project management consisting of five sequential stages.