GMS 200 Lecture Notes - Bargaining Power, Swot Analysis

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GMS 200 Full Course Notes
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GMS 200 Full Course Notes
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Document Summary

Michael e porters competitive strategy is one of the most strategic books. Porters model industry analysis: potential entry for new competitors. When a firm can easily enter a new industry, competition in that industry. That threat is aggravated when new entrants can leverage their existing cash flows in other businesses. Strong brand preferences: threat of substitutes. Industries with close competition with producers of substitute products have higher competition. As pricing for substitute products decline higher competitive pressure on the industry: the power of suppliers. Cost of switching raw materials is high. Bargaining power of suppliers also include suppliers of labour: the power of buyers. When customers are large and buy in bulk they enjoy more power. Bargaining power of customers is also higher when: product is standard or undifferentiated, they can easily switch to competing brands, sellers are struggling in the face of falling consumer demand, rivalry among existing competitors. Rivalry among competitor depends on: dimension on which they compete.

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