Which model is used to describe the interaction of external forces that affect an organization's strategy and ability to compete?
A)Network economics model
B)Competitive forces model
C)Competitive advantage model
D)Demand control model
E)Agency costs model

Question

Quizplus · Accepted Answer

The competitive forces model, also known as Porter's Five Forces, is used to describe the interaction of external forces (such as competitors, suppliers, customers, and substitutes) that affect an organization's strategy and ability to compete. This model helps organizations understand the industry structure and identify opportunities and threats in the competitive environment.

Which Model Is Used to Describe the Interaction of External