Strategic Management

MIDTERM EXAMINATION (ESSAY) Instructions: 1. Based on the diagrams below, kindly elaborate your thoughts about Five Forces Model of Industry Competition. 2. No need to define each item. Please explain directly in 3 sentences only for each item. Each Item has a perfect score of 5 points. 3. Provide specific examples to support your explanations using the concept of RESTAURANT POTENTIAL ENTRANTS Throat of new entrants Bargaining power Bargaining power of suppliers INDUSTRY of buyers COMPETITORS SUPPLIERS BUYERS Rivalry among Existing Firms Throat of subsume pro SUBSTITUTES Figure 1. Five Forces Model "RIVALRY AMONG EXISTING FIRMS (3 sentences only with specific example): *THREAT OF POTENTIAL ENTRANTS (3 sentences only with specific example): *BARGAINING POWER OF BUYERS (3 sentences only with specific example): "BARGAINING POWER OF SUPPLIERS (3 sentences only with specific example): *THREATS OF SUBSTITUTE PRODUCT (3 sentences only with specific example)