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What are the three types of competition? Give an example of
each
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- What is Competitive advantage and provide an example of it.What are the primary factors that shape competition in an industry, according to Porter’s model?Subject : enterprenuership Question: suppose we have a milk industry then we have to explainin it usins five applications of the model .(attached below kindly refer to it)
- Explain the two elements or basis used to determine the extent of competition from another company in the same industry and further explain the three (3) drivers of competitive behaviour.What conditions would encoursge research and development in any competitive industry?Sustaining competitive advantage can be challenging. The entry of new competitors, the possibility of imitation, and the changes in the firm’s context can affect the firm’s profitability and, historically, have affected firms that had competitive advantage in very distinctive ways. For instance, Coke and Pepsi have sustained their market dominance for nearly a century. On the other hand, General Motors and Ford were hit hard by competition, in particular of foreign companies entering the market, and never fully recovered. What is different about the product/market situation in these cases that affects the sustainability of their competitive advantage? Which elements of the strategic landscape were responsible for Coke and Pepsi’s success and which elements were instrumental in GM and Ford losing an important share of the market?