In brief short answers less than 200 words, answer the following: 3. Industry Roles: Pick an industry. Classify firms according to the four different roles they might play leader, challenger, follower, and nicher. How would you characterize the nature of competition? Do the firms follow the principles?
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- What do you think are the key success factors in :a) Fashion and clothing industry andb) Supermarkets Identify the success factors under two dimensions- What do customers want? and How do firms survive competition?Below are businesses and a series of questions. Please help me fill in the table. You will have to use the answers to the questions to figure out which market type each business fits into. Below are the potential answers to questions 3 through 9 on the table.: POTENTIAL ANSWERS 3. Size of Market Global, National, Regional, Local 4. Number of Buyers Many or Few 5. Number of Sellers Many, Few or One 6. Product Type Identical, Differentiated, Unique 7. Barriers to Entry High, Medium or Low 8. If high, why? Control Over Resources, Economies of Being Established, Economies of Scale, Legal Barriers (patents, licenses, ect.), Required Scale for Innovation, Economies of Platform 9. Market Type Perfect Competition, Monopolistic Competition, Oligopoly, Monopoly Here's an Example Table Below: 1. Business Bank of America 2. Industry Banking 3. Size of Market National 4. Number of Buyers Many 5. Number of Sellers…Select an industry and consider how the industry life cycle has affected business strategy for the firms in that industry over time. Detail your answer based on each stage: introduction, growth, shakeout, maturity, and decline.
- Please help me do an analysis using Porter’s 5 forces of competition on the fast-food industry. Test Case:McDonalds, Jollibee, KFC, Burger King, Wendy’s, and similar type of fast-food chains. Indicate the degree of barrier encountered in each force and explain your answer thoroughly.The industry environment plays a critical role in the profitability of a company. Hence, companies are to critically examine an industry towards ascertaining how its strategies success could be influenced by the industry factors. With the aid of a diagram, conduct an industry analysis of the carbonated drink industry assuming you are the business strategist working for NESTLE Milo Ghana Limited.Describe the importance of an external assessment in formulating business strategies. What are the most important factors affecting industry attractiveness? Conduct the Porter’s Five-Forces Model to evaluate competitiveness of the electronic companies. Each group may choose one company listed below for the purpose of the discussion. Apple Inc Samsung Electronics Huawei Dell Technologies Hitachi Sony Panasonic Intel LG Electronics Microsoft
- Kourdi (2009:3) has defined business strategy as a “plan, choice or decision used to guide a company to greater profitability and success.” Required Explain how the following strategies facilitate the achievement of success or profitability: Outsourcing Diversification Market Focus Market developmentExplain the conditions for a market to be perfectly competitive? Include any sources used.Why do you think competition in business matters? Explain your answer.
- Define and discuss each of Porter's five forces of industry competition. How do these forces affect an industry's profit potential? Explain.Identify the six forces that shape competition in an industry. Describe how changes in the strength of these forces affect prices, profitability, and under which circumstances each can be considered a threat or opportunity. Why is a competitive analysis using the competitive forces framework a benefit to industry?Environmental factors can cause major setbacks for a given industry. Select a company in an industry that was recently affected by negative environmental factors for which you would like to implement strategies to reduce costs. Describe the company and the negative environmental factors that caused major setbacks. What strategic financial decisions would you implement to help either increase revenue or reduce costs?