The sum total set of interrelationships that establish the manner in which competitors behave in an industry could be referred to as competitive dynamics. Required: a. Briefly explain what competitive rivalry is? b. Explain what competitive behaviour is and the three factors that drive competitive behaviour
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The sum total set of interrelationships that establish the manner in which competitors behave in an industry could be referred to as competitive dynamics.
Required:
a. Briefly explain what competitive rivalry is?
b. Explain what competitive behaviour is and the three factors that drive competitive behaviour
Step by step
Solved in 2 steps
- 1) Which of the following is NoT a reason for firms to participate in strategic alliances? a. To allow firms to combine their resources, capabilities, and core competencies. b. To develop oligopolies in a market and eliminate competition. C. To encourage beneficial partnerships between firms. d. To allow firms to pursue benefits in designing, manufacturing, or distributing goods. 2) A firm can create a competitive advantage: a. through either a cost leadership or differentiation strategy. b. by increasing its sales and net profit. c. only by ottering unique product features to the target market. d. only through implementing a cost lecdership strategy.The sum total set of interrelationships that establish the manner in which competitors behave inan industry could be referred to as competitive dynamics.Required:a. Briefly explain what competitive rivalry is? b. Explain what competitive behaviour is and the three factors that drive competitivebehaviour c. With the aid of a diagram explain the model of competitive rivalry and how a strategistcan use that understanding to develop strategies that facilitate the attainment of higherfinancial performance?The sum total set of interrelationships that establish the manner in which competitors behave in an industry could be referred to as competitive dynamics.Required:a. Briefly explain what competitive rivalry is?
- An industry's key success factors A) can be determined from studying the "winning" strategies of the industry leaders and ruling out as potential key success factors the strategy elements of those firms considered to have "losing" strategies. B) depend on the relative competitive strengths of the industry leaders and how vulnerable they are to competitive attack. C) are a function of market share, entry barriers, economies of scale, degree of vertical integration, and industry profitability. D) can be determined through identifying an industry's dominant economic characteristics, assessing the five competitive forces, and considering the impacts of the driving forces. E) vary according to whether an industry has high or low long-term attractiveness.1. Do you believe that external factors are more important than internal factors for a firm to achieve its competitive advantage. Justify your answer.Strong rivalry may hinder firms from making profits. Firms have various ways to evaluate the state of competition and take specific competitive moves, however,Tesla used coopetition. Analyze the widely used Porter forces of competitive rivalry to explain how Tesla embodied coopetition to reduce the rivalry of the existing competition.
- 2. In this question, we will explore factors that influence growth for a company both growth in sales volume and growth in price. Describe one firm specific strategic factor, one industry specific factor, and one economywide factor that could impact one’s forecast of sales volume. Describe one firm specific strategic factor, one industry specific factor, and one economywide factor that could impact growth in prices as well.Based on the existing environment & the situation at John Francois Stores, & as the Consultant hired by the Company Suggest 4 strategies by name that the Company could undertake to maintain a competitive advantage, and provide a brief explanation of what each strategy means. John Francois Stores Mr. Francois, a very successful businessman is contemplating his next move at the age of 70. As a young man at the age of 16, he dreamt of becoming a “businessman” and would go into stores in the city where he lived and observe how personnel operated. In his exploits, he became very friendly with many of the business owners in the city. As time passed, John Francois obtained four (4) Advanced Level subjects (Mathematics, Geography, English Literature and Spanish). He also enrolled in a Technical Vocational institution and pursued short courses in tiling, plumbing, masonry and electrical maintenance for which he gained certification. Through his qualifications, John was able to secure…Describe at least 5 strategies companies can use to achieve competitive advantage in their insdustry. (Competitive Weapons, Links with Business Partner, Cost reductions, Relationship with Supplier and Customer, New Products)
- Which of the following provides an example of a firm in a red ocean? Select one: a. Top Drawer Apparel offered clothing at a higher price than competitors and, as a result, failed to make a profit. b. Cheap Apparel offered clothing at a price matching that of its competitors and, as a result, it had lower profit margins. c. Chique Apparel offered clothing at a low price but failed to differentiate its product as being exclusive. d. Goode Apparel offered clothing at a mid-range price but failed to differentiate its product as being of decent quality.One of the following statements about Competitor Rivalry is NOT true in Porter 5 Force analysis Seleccione una: a. Differentiated products among competitors in an industry is associated with high industry profits b. Few competitors in an industry is associated with high industry profits c. Low Fixed costs in an industry is associated with high industry profits d. Industries with perishable products are associated with high industry profits e. Increasing industry sales is associated with high industry profitsIdentify two current organizations—one organization facing a low-risk competitive environment and one facing a high-risk competitive environment. For each of these organizations, explain why you have evaluated its competitive environment as either low risk or high risk, using strategic planning and analysis concepts (such as Porter's Five Forces Model) For each of these organizations, recommend a pairing of a system design tool and a system operation tool that you believe will work especially well in the competitive environment faced by the organization. Be sure to explain why the tools you have chosen are uniquely suited to the competitive environment faced by that organization.