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Question & Answer
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It helps identify competitive pressures that require alignment of resources and capabilities.
It focuses solely on internal company structure, ignoring external competitive forces.
It suggests that market share is the only factor in strategic alignment.
It emphasizes the importance of employee satisfaction over competitive analysis.
Understanding the Answer
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Porter’s Five Forces shows the five big pressures that an industry faces: rivalry, supplier power, buyer power, threat of new entrants, and substitutes. Other options are incorrect because Some think the model only looks at a company’s internal structure; Others say Porter’s model cares only about who has the most sales.
Key Concepts
Business Strategy
medium level question
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Deep Dive: Business Strategy
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Definition
Business strategy refers to the long-term direction and scope of an organization to achieve a competitive advantage in a dynamic environment. It involves leveraging resources and competencies to adapt to changes and drive success. Managers play a crucial role in contributing to strategic discussions and decision-making processes.
Topic Definition
Business strategy refers to the long-term direction and scope of an organization to achieve a competitive advantage in a dynamic environment. It involves leveraging resources and competencies to adapt to changes and drive success. Managers play a crucial role in contributing to strategic discussions and decision-making processes.
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