BU111 Chapter Notes -Credit Union, Tax Advantage, Trust Company
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BU111 Full Course Notes
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Technology: think of an example of each of the important technology concepts and describe their strategic significance. Locations are posted on course website (must write in location posted for your lab) Bring student id and multiple writing instruments. Backpacks be left at the front of the room. 15 sa question (2-6 marks: = 80marks total. What determines the power of substitutes in the porter"s five forces model, what effect do substitutes have on profitability, and what can a firm do to address this force? (4 marks) The factors that determine the power of substitutes are: the number of quality substitutes (higher number = higher power) (1/2 mark, and the ease of switching to them (lower switching costs = higher power (1/2 mark) To address the force of substitutes: convince customers that your product is unique and thus can"t be substituted (1 mark, lock customers in so that it is harder/costlier for them o switch (1 mark)
