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| Topic: |
Business
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| Number of pages / Number of words: |
6 / 1431 |
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The industry environment includes factors that have more of a direct influence on a company’s business such as entry barriers, competitor rivalry, the availability of substitutes, and the bargaining power of buyers and suppliers. The operating environment are factors that affect a company’s immediate competitive situation such as competitive position, customer profiles, suppliers, creditors, and the labor market (Pearce & Robinson, 2005)...
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The competitive analysis outlines the strategy of the business and how the business relates to the competition. The business will need to look at the market from the customer's viewpoint and group all the competitors by the degree to which they compete for the consumer’s dollar. Preparing a competitive analysis will give each business an instrument to understanding what motivates consumers...
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