Question

Determine whether the collective strength of five competitive forces is conducive to earning attractive

profit.

(A) First step of five forces model

(B) Second step of five forces model

(C) Third step of five forces model

(D) None of thes​

Answer 1

Answer:

(B) Second step of five forces model

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Answer 2

Answer:

Porter's Five Forces Model, which identifies external forces driving industry rivalry, provides a framework for comprehending strategic business decisions.

Explanation:

The third step determines the collective strength of five competitive forces.

• Stage One separates out the specific, urgent issues associated with each of the five abilities.
• The second stage determines if the pushing elements, which comprise each of the five powers, are furious, firm, moderate to average, or feeble.
• During stage three, make a determination as to whether obtaining appealing returns is advantageous given the combined strength of the five competitive powers.

KEY Observations

• Any industry may analyze its competitive environment using Porter's Five Forces Model.
• The Five Forces model identifies the external variables driving competitiveness within an industry and offers a framework for comprehending strategic business choices.
• Business strategy can be guided by the Five Forces Analysis.

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