In the _____ developed by Michael Porter,competition is not defined narrowly as a firm's closest competitors but rather more broadly to include other factors in an industry like buyers,suppliers,potential new entry of other firms,and the threat of substitutes.
A) PESTEL framework
B) VRIO framework
C) five forces model
D) value chain analysis

Question

Quizplus · Accepted Answer

In Porter's five forces model, competition is not defined narrowly as a firm's closest competitors but rather more broadly to include other forces in an industry: buyers, suppliers, potential new entry of other firms, and the threat of substitutes.

In the _____ Developed by Michael Porter,competition Is Not Defined