Question

What are the ways in which the government can save small production units from rising in competitive?

Answer 1

Create incentives for risk capital. ...

Establish incentives for small and large businesses to co-innovate together. ...

Encourage entrepreneurs to invest in R&D. ...

Build leverage into innovation programs. ...

Commit to graduating workers prepared for the creative/innovation economy.

Answer 2

In Porter's model, the five forces that shape industry competition are as follow:

Competitive rivalry. ...

Bargaining power of suppliers. ...

Bargaining power of customers. ...

Threat of new entrants. ...

Threat of substitute products or services.