Question 1

What are the seven key questions which form the framework of thinking strategically about a company's industry and competitive environment?

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Question 2

What are the five competitive forces that comprise the five-forces model of competition?

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Question 3

Identify and briefly explain any three of the factors that influence the bargaining strength and leverage of suppliers.

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Question 4

Not all buyers of an industry's product are likely to possess the same degree of bargaining power or leverage over the terms and conditions under which they purchase the product.True or false? Explain.

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Question 5

Explain why low switching costs and weakly differentiated products tend to give buyers a high degree of bargaining power.

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Question 6

Identify and briefly explain any three factors that weaken the competitive pressures stemming from the threat that new firms will enter the industry.

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Question 7

Identify and briefly explain any three factors that lead to weak bargaining power on the part of suppliers.

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Question 8

Identify and briefly explain any three factors that lead to strong bargaining power on the part of buyers.

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Question 9

Identify and briefly explain any three factors that intensify competitive pressures stemming from the threat that new firms will enter the industry.

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Question 10

Identify and briefly explain any three factors that lead to weak bargaining power on the part of buyers.

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Question 11

Identify five factors that tend to weaken the intensity of competitive rivalry among an industry's member firms.

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Question 12

Identify and briefly explain any three factors that lead to strong bargaining power on the part of suppliers.

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Question 13

Identify and briefly explain any four of the factors that influence the strength or intensity of competitive rivalry among an industry's member firms.

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Question 14

Identify three conditions that tend to make potential entry a strong competitive force.

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Question 15

Identify and briefly discuss any three of the factors that influence the bargaining strength and leverage of buyers.

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Question 16

Identify and briefly explain any two of the factors that influence the strength of competition from substitute products.

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Question 17

Identify five factors that tend to intensify competitive rivalry among an industry's member firms.

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Question 18

Identify and briefly describe five common barriers to entering an industry.

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Question 19

Competitive markets are economic battlefields.True or false? Explain.

Accepted Answer

When rivalry is strong, the battle for market share is generally so vigorous that the profit margins of most industry members are squeezed to bare-bones levels. When rivalry is moderate, a more normal state, the maneuvering among industry members, while lively and healthy, still allows most industry members to earn acceptable profits. When rivalry is weak, most companies in the industry are relatively well satisfied with their sales growth and market shares and rarely undertake offensives to steal customers away from one another. Weak rivalry means that there is no downward pressure on industry profitability due to this particular competitive force.

Question 20

Draw the five-forces model of competition and briefly describe the relevance of each of the five forces in determining the overall strength of competitive pressures a company faces.Which of the five competitive forces is typically the strongest?

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Quiz 3: Evaluating a Companys External Environment

What are the seven key questions which form the framework of thinking strategically about a company's industry and competitive environment?

What are the five competitive forces that comprise the five-forces model of competition?

Identify and briefly explain any three of the factors that influence the bargaining strength and leverage of suppliers.

Not all buyers of an industry's product are likely to possess the same degree of bargaining power or leverage over the terms and conditions under which they purchase the product.True or false? Explain.

Explain why low switching costs and weakly differentiated products tend to give buyers a high degree of bargaining power.

Identify and briefly explain any three factors that weaken the competitive pressures stemming from the threat that new firms will enter the industry.

Identify and briefly explain any three factors that lead to weak bargaining power on the part of suppliers.

Identify and briefly explain any three factors that lead to strong bargaining power on the part of buyers.

Identify and briefly explain any three factors that intensify competitive pressures stemming from the threat that new firms will enter the industry.

Identify and briefly explain any three factors that lead to weak bargaining power on the part of buyers.

Identify five factors that tend to weaken the intensity of competitive rivalry among an industry's member firms.

Identify and briefly explain any three factors that lead to strong bargaining power on the part of suppliers.

Identify and briefly explain any four of the factors that influence the strength or intensity of competitive rivalry among an industry's member firms.

Identify three conditions that tend to make potential entry a strong competitive force.

Identify and briefly discuss any three of the factors that influence the bargaining strength and leverage of buyers.

Identify and briefly explain any two of the factors that influence the strength of competition from substitute products.

Identify five factors that tend to intensify competitive rivalry among an industry's member firms.

Identify and briefly describe five common barriers to entering an industry.

Competitive markets are economic battlefields.True or false? Explain.

Draw the five-forces model of competition and briefly describe the relevance of each of the five forces in determining the overall strength of competitive pressures a company faces.Which of the five competitive forces is typically the strongest?