Which of the following is NOT one of the forces in Porter's Five Forces of Competitive Position Model?
A) bargaining power of suppliers
B) threat of substitute products
C) bargaining power of customers
D) threat of relevant regulations
E) threat of new entrants
D
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When calculating the cost ratio for the retail inventory method,
a. if it is the conventional method, the beginning inventory is included and markdowns are deducted. b. if it is the LIFO method, the beginning inventory is excluded and markdowns are deducted. c. if it is the LIFO method, the beginning inventory is included and markdowns are not deducted. d. if it is the conventional method, the beginning inventory is excluded and markdowns are not deducted.
According to the IFAC's Code of Ethics for Professional Accountants section on professional appointment,
a. The existing accountant must discuss relevant matters with the proposed accountant b. The fundamental principle of independence requires the accountant to provide only the services for which (s)he has the needed expertise c. Before accepting a new engagement, the accountant should have assurance that the work can be completed without the help of others d. An accountant generally needs the client's permission to communicate with the current accountant