Briefly Describe the Two Key Factors That Michael Porter Uses

question 235

Essay

Briefly describe the two key factors that Michael Porter uses as the basis for formulating strategy. Explain how these factors combine to create different competitive strategies.

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Definitions:

Adjourning Stage

The adjourning stage refers to the final phase in Tuckman's team development model, where the team completes the task and dissolves, often marked by feelings of accomplishment and sadness.

Team Development

The process of enhancing the effectiveness, cohesiveness, and performance of a team through various exercises, training, and group activities.

Task Forces

Groups assembled to focus on a specific task or project, often comprised of members from various departments or skill sets.

Cohesiveness

The degree to which members of a group or team are united in pursuing common goals and how well they bond with each other.