Your Business
May 31, 2008 by admin
How can competition affect your business?
I have to research competition for my Business Studies coursework, and I got stuck with the question 'How can competition in your area affect you business?'. Any answers would be very appreciated.
As a student, you will find it useful to look up in textbooks or on the net "Porter's Five Forces". prof. Porter outlined five forces that act upon a market so as a student you will score well if you write a paragraph on each force. Very briefly, the forces are:
1. Threat of Substitute Products or services
2. Threat of New Entrants into the market (Called Barriers to Entry)
3. Power of Suppliers to influence prices paid for supplies to a company.
4. Power of Buyers to push prices downwards
5. The degree of competitive rivalry in the market between competing firms.
The websites below will give you a good idea of the effects of each. Good luck with the assignment.
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MBT MAGNETIC VACUUM NEW OPEN YOUR BUSINESS SEE VIDEO $540.00 |
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Body Wrap Business Kit - Start your bodywrap career! $535.95 |
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Custom E-Commerce Website Energise your Retail Business $466.80 |
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Complete website design service for your business FLASH $199.00 |
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EUROPIAN ANTIQUE OBJE "How about on your business desk? $198.00 |
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Growing Your Business in Emerging Markets: Promise and $196.63 |
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FINANCIAL BUSINESS AND MANAGEMENT FOR YOUR CHURCH $195.00 |
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YOUR OWN MINERAL MAKEUP BUSINESS - INCLUDES PRODUCTS $179.50 |
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YOUR OWN MINERAL MAKEUP BUSINESS - WHOLESALE PRODUCTS $179.50 |
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Designing Your Business: Strategies for Interior Design $168.66 |
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