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Competitive environment
Students analyse entry threat, buyer power, supplier power, rivalry and substitute threat.
0
Objectives
10
Flashcards
10
Questions
90 min
Study time
AqaA LevelBusinessAnalysing the strategic position of a business
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Syllabus checklist
What you need to know
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Porter's five forces2 objectives
- Apply Porter's five forces to analyse competitive pressure and profit potential.
- Explain how entry threat, buyer power, supplier power, rivalry and substitute threat can change and shape competitive strategy.
Key terms
financial decision-makingPorter's five forcesPorterfive forcesfinancial decision-making decisionbusiness changebuyer powerrivalrybusiness change decision
Exam tips
- Porter's five forces exam tip 1: Write the method before the answer so the examiner can follow each step. Apply this to apply Porter's five forces to analyse competitive pressure and profit potential..
- Porter's five forces exam tip 2: State the exact concept or formula you are using before substituting values. Apply this to apply Porter's five forces to analyse competitive pressure and profit potential..
Common mistakes
- Porter's five forces common mistake 1: Show the method first, then give the final answer in the required form. Apply this directly to Porter's five forces.
- Porter's five forces common mistake 2: Name the relevant value or feature from the question and explain how it is used. Apply this directly to Porter's five forces.
Practice preview
- Which answer best applies financial decision-making to Porter's five forces? Scenario: a growing manufacturer deciding whether financial decision-making improves capacity without damaging cash flow.
- Which response gives the strongest financial reasoning for financial decision-making? Scenario: a service business comparing financial decision-making against customer service, employee workload and profit objectives.
- Which option evaluates financial decision-making most effectively? Scenario: a retailer using market evidence and financial data before committing resources to financial decision-making.
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