How strong is your firm's competitive advantage? /
Perhaps the most confounding characteristic of the competitive marketplace is that everyone wants a piece of the action. If a firm successfully enters a new market, creates a new product, or designs new innovations for an existing product, it's just a matter of time before competitors follow su...
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| Main Author: | |
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| Format: | Electronic eBook |
| Language: | English |
| Published: |
New York, New York (222 East 46th Street, New York, NY 10017) :
Business Expert Press,
2016.
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| Edition: | Second edition. |
| Series: | Economics collection.
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| Subjects: | |
| Online Access: | An electronic book accessible through the World Wide Web; click to view |
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| Summary: | Perhaps the most confounding characteristic of the competitive marketplace is that everyone wants a piece of the action. If a firm successfully enters a new market, creates a new product, or designs new innovations for an existing product, it's just a matter of time before competitors follow suit. And the influx of competition inevitably places downward pressure on both price and profitability. But the speed at which competitors invade one's market is not the same in all industries; some are more resistant to the forces of competition than others. In 1979, Harvard economist Michael Porter theorized his Five Forces Model (updated in 2008). The Five Forces Model identifies the characteristics that can help insulate a firm from competitive forces. For the firm that seeks to put together a business plan, or for the firm that is considering opportunities for diversification, an understanding of the Five Forces Model is essential. |
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| Physical Description: | 1 online resource (xi, 144 pages) Also available in print. |
| Format: | Mode of access: World Wide Web. System requirements: Adobe Acrobat reader. |
| Bibliography: | Includes bibliographical references (pages 131-140) and index. |
| ISBN: | 9781631573682 |
| ISSN: | 2163-7628 |
| Access: | Access restricted to authorized users and institutions. |