________ is the most powerful and widely known tool used to assess the state of competition in an industry.
A)PESTEL analysis
B)SWOT analysis
C)Financial ratio analysis
D)Strategic group mapping
E)Porter's five-force model

Question

Quizplus · Accepted Answer

Porter's five-force model is widely recognized as the best tool for assessing the state of competition in an industry. It evaluates the bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and competitive rivalry within the industry. It helps organizations identify potential threats and opportunities in the industry and formulate effective strategies.

________ Is the Most Powerful and Widely Known Tool Used