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"The organisation that moulds and strategies to meet the challenges of the new century cannot ignore the tenets of Michael Porter." Discuss the validity of this statement.
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QUESTION: "The organisation that moulds and strategies to meet the challenges of the new century cannot ignore the tenets of Michael Porter." Discuss the validity of this statement. (2500 words) [40 marks] An organization that moulds and strategies to meet the challenges of the new century has to consider the tenets of Michael Porter, a Harvard Business School Professor. The undisputed guru of competitive strategy identifies five forces that drive competition within an industry. One obvious application of all this is to would-be entrants and the problem of entering new markets. Another is to the current competitors and the ongoing task of staying competitive in markets where they already operate. The five forces in the competitive business environment are: 1. The threat of entry by new competitors. 2. Pressure from substitute products. 3. The bargaining power of suppliers. 4. The bargaining power of buyers. 5. The intensity of rivalry among existing competitors. Threat of...
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