Strategic Management (Fach) / Ten schools of thought about strategy making (Lektion)
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Porter's five forces:
Competitive threat depends on:
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Suppliers:
- Number of suppliers
- Strategic relevance of items
- Standardization of Product
- Switching costs
- Substitutes
Buyers:
- Number and Size of Buyers/Customers
- Degree of product standardization
- Switching costs
- Transparency of markets
- Threat of backward integration
Substitute Products:
- Availability
- Pricing
- Performance features (comparable or better)
- Customer switching costs
Potential New Entrants:
- Entry barriers
- Reactions of Incumbents
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