UoP CMGT Week 2 Individual Assignmentin Other (Other) by jacob
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UoP CMGT Week 2 Individual Assignment
Harvard Business Review: Competitive Forces Name University of Phoenix CMGT 583 Date
Harvard Business Review: Competitive Forces There are five forces that define competition within business. Each of these five forces is continually tested in terms of their ability to provide an ongoing competitive advantage. Existing business is threatened by the entry of new competitors, the bargaining power of buyers affects pricing, and the bargaining power of suppliers also determines a companys ability to price its products. Finally, the threat of substitute products exists if another company can produce a similar product below the cost of the competitor they will likely gain market share and therefore increase their buying power as a potential new entrant into the market....