Final Flashcard

Front

What is Porter's Five Forces framework?

Back

Porter's Five Forces framework is a tool used to analyze the competitive environment of an industry.

Front

Name the five forces in Porter's Five Forces framework.

Back

1. Threat of new entrants
2. Bargaining power of suppliers
3. Bargaining power of buyers
4. Threat of substitute products or services
5. Intensity of competitive rivalry

Front

How does the bargaining power of suppliers affect an industry according to Porter's Five Forces framework?

Back

The bargaining power of suppliers affects an industry by influencing the prices, quality, and availability of inputs.

Front

What is the significance of the bargaining power of buyers in Porter's Five Forces framework?

Back

The bargaining power of buyers affects profitability and competitiveness of businesses.

Front

Describe the concept of threat of substitute products or services in Porter's Five Forces framework.

Back

The possibility of alternative products or services that can fulfill the same customer needs.

Front

How does the intensity of competitive rivalry impact an industry according to Porter's Five Forces framework?

Back

The intensity of competitive rivalry impacts an industry by determining the level of competition and price pressure within the industry.

Front

What are the key factors that determine the bargaining power of suppliers in Porter's Five Forces framework?

Back

supplier concentration, availability of substitute inputs, switching costs, importance of volume to supplier, and threat of forward integration

Front

Discuss the role of government regulations in Porter's Five Forces framework.

Back

Government regulations influence the competitive dynamics within an industry.

Front

What is the main goal of a Blue Ocean Strategy?

Back

Create new market space and make competition irrelevant

Front

Which of the following tools is most commonly associated with Blue Ocean Strategy? A. Ansoff Matrix, B. BCG Matrix, C. Strategy Canvas, D. Porter's Five Forces

Back

Strategy Canvas