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| Topic: |
Technology
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| Number of pages / Number of words: |
3 / 561 |
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This can weaken the companies position. However, with the case of the manufacturing industry, there are strong barriers to entry, so XYZ can keep its position in the market. The reasons for the strong barrier, is that not everyone can start a new manufacturing firm. A large sum of time and capital is needed, as well as skilled workers and machinery...
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A large sum of time and capital is needed, as well as skilled workers and machinery. All these factors need to be considered when entering a market which already has an established stream of manufacturers.
In conclusion to question 1, it was shown how Porter's Five Forces is an effective way and a powerful strategic management tool to use in analyzing the competitive environment...
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