Business Exam: Chapter 7

Porter's Five Forces Model
- Risk of new entry by potential competitors
- Degree of rivalry between existing competitors
- The bargaining power of the buyers
- The bargaining power of suppliers
- The threat of substitute products
Substitute Products characteristics
- Price difference
- Quality difference
- Performance difference
- Cost of switching
- Buyer's willingness to switch
Supplier Power Characteristics
- Number of suppliers
- Size of suppliers
- Product difference
- Switching cost
- Ability to substitute
Threat of New Competition Characteristics
- Capital requirements
- Economies of scale
- Legal/regulatory issue
- Access to distribution channels
- Switching cost
Competitive Rivalry
- Number of competition
- Significance of competition
- Product difference
- Switching cost
- Exit barriers
Buyers Characteristics
- Number of buyers
- Switching cost to changing supplier or product
- Brand identity
- Threat of backward integration
Clear, concise picture of the company's future direction (used to guide and inspire)

Vision
Clear, concise articulation of how the company intends to achieve its vision and how it is different from the competition

Mission

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Business Exam: Chapter 7

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chapter 7

Updated

2015-07-01T13:32:53Z

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