Which of the following is an example of low bargaining power of buyers?

A new bus company presents a membership option to a market of daily commuters. Due to this new membership option, car owners may now take the bus instead. Which of Porter’s Five Forces would apply to this situation?

What is NOT an important element of strategy implementation?

Apple has created a strong brand reputation that represents exclusivity. One could say consumers of Apple are willing to forego certain features available to other consumers in exchange for perceived status. Consumers of Apple products pay a premium that they are not likely to pay anywhere else, even if the rival company produces products with similar features and uses the same materials to make the product. This is a good example of __________.

A new, independently owned Italian restaurant has opened in a town that currently has 2 other Italian style restaurants, both franchise establishments. The owner knows that if his business receives great reviews in its first few years of being open, he will have the ability to raise prices higher than competitors because of its distinguished food and service. However, because the restaurant is new, they only have a small number of recurring customers. If he raises prices now, frequent customers may not come back. The setback of establishing prices at an amount that customers will want to pay is referred to as PorterÕs force of _____________.

Starbucks and Dunkin Donuts are considered rival competitors in their industry. According to Porter’s Five Forces, which of the following provides the BEST explanation for why these two companies have such fierce rivalry?

Most gas stations and car repair shops generally operate to serve gas-powered cars, making it difficult for them to serve customers with electric cars, which are becoming more and more popular. This means consumers may have to spend more time and money to switch to an alternative fuel vehicle. This an example of which factor that makes it hard for new entrants to enter an industry?

What do the letters for PESTEL stand for?

An implication for strategic management involves the concept of a mission. Which of the following examples would best serve as an example highlighting the importance of a central mission to guide organizational strategy and actions?

In the context of a hospital setting, how does a pharmacist’s role in therapeutic interchange impact patient outcomes?