Question

Josiah is the marketing manager in a firm that sells air pollution control systems to the coal-fired power industry. His business is highly competitive, with existing rivalries and new players. Coal-fired power plants are being shut down in favor of substitute forms of energy, e.g., wind and natural gas. Thus, new project opportunities in coal-fired power plants are rare. His clients (electric utility companies) have many choices of providers and technologies. Josiah's firm has long-term pricing agreements with its equipment suppliers, so Josiah knows what external costs his firm will incur on potential new projects. The competitive force that appears to represent the lowest risk to Josiah's firm is: _________

Answer 1

The competitive force that appears to represent the lowest risk to Josiah's firm is power of supplier

For better understanding, let us explain what competitive force means

• Competitive forces are simply known as a type of force that scares a company's profits and hinder its growth

• The Five (5) forces that shape the competition in industry are;

1. Threat of new entrants
2. Threat of substitute products or
3. services
4. Bargaining power of buyers
5. Bargaining power of suppliers
6. Rivalry among existing competitors

• Among the options, such as competition between existing rivals impact of substitute or complement services or products, impact of new competitors, power of customers, the lowest force is the power of suppliers because its not really a vital force to recon with.

From the above, we can therefore say that the answer The competitive force that appears to represent the lowest risk to Josiah's firm is power of supplier. is correct

learn more about competitive force from:

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