Questions: Porter's five competitive forces form a model for industry analysis.
Transcript text: Porter's five competitive forces form a model for industry analysis.
Solution
The answer is the first one: industry.
Explanation for each option:
Industry: Correct. Porter's Five Competitive Forces is a framework for analyzing the level of competition within an industry. It helps to understand the competitive forces that shape every industry and market.
Staff: Incorrect. Porter's model does not focus on staff or human resources; it is concerned with the broader competitive environment of an industry.
Cost: Incorrect. While cost can be a factor in competitive strategy, Porter's Five Forces specifically analyze the competitive dynamics of an industry, not just cost.
Production: Incorrect. Production is an aspect of a company's operations, but Porter's Five Forces model is used to analyze the competitive forces in an industry, not the production processes.
Summary:
Porter's Five Competitive Forces form a model for industry analysis. This framework helps to understand the competitive dynamics and the attractiveness of an industry.