Chapter 5 Flashcards
(4 cards)
1
Q
what is an industry?
A
an industry is a group of organisations supplying a market offering similar products using similar technology to provide customer benefits.
2
Q
different stages of an industry’s lifecycle?
A
introduction - Growth - Shakeout - Maturity - Decline.
3
Q
what are porters five forces?
A
-threats of new suppliers
-threats of new entrants
-bargaining power of customers
-bargaining power of suppliers
-threat of competitive rivalry
4
Q
what are the two types of strategic advantage?
A
-resource based (inside-out)
-positioning (outside-in)
