Which of the following is one of the factors that determines the nature and degree of competition in an industry, as identified by Michael Porter in his book Competitive Advantage?
A) The interest of small businesses
B) Bargaining power of competitors
C) Threat of substitute products or services
D) The macroeconomy

Question

Quizplus · Accepted Answer

Michael Porter's Five Forces model identifies the threat of substitute products or services as one of the key factors that determine the nature and degree of competition in an industry.

Which of the Following Is One of the Factors That