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ENT 725 (5)
Chapter 6

ENT 725 Chapter 6 Notes.docx

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Entrepreneurship and Strategy
ENT 725
Phil Walsh

ENT 725 Chapter 6 Notes Defining the Organizations Strategic Direction Accessing the First Current Position External AnalysisPorters FiveForce Model 1 The Degree of Existing Rivalrythe number and relative size of competitorsthe more firms competing the more competitive the industry will be o Ex Oligopolistic Industries have a few large competitors who may choose to engage in price wars high competition or avoid competition head to head low competitionIn declining industries high exit barriers fixed capital investments emotional attachment etc can also intensify rivalry by making firms reluctant to abandon the industry2 Threat of Potential EntrantsThe threat is based on how attractive the industry is profitable growing etc and how high the entry barriers large startup costs brand loyalty etc are3 Bargaining Power of SuppliersIf there are few suppliers the firm may have little choice in its buying decision and suppliers will have more power over pricing delivery etcIf there are a lot of suppliers the firm may be able to force suppliers to bid agains
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