Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The costs of producing steel have declined substantially from building a conventional hot-rolled steel mill down to the new minimill technology that requires only scrap

The costs of producing steel have declined substantially from building a conventional hot-rolled steel mill down to the new minimill technology that requires only scrap metal, an electric furnace, and 300 workers rather than iron ore raw materials, enormous blast furnaces, rolling mills, reheating furnaces, and thousands of workers.

Which of the following forces in Porter’s Five Forces framework would suggest that this technology decrease potential industry profitability?

The threat of substitutes

The threat of entry

The intensity of rivalrous tactics

The power of suppliers

The power of buyers

Step by Step Solution

3.42 Rating (158 Votes )

There are 3 Steps involved in it

Step: 1

The correct answer is the option The threat of substitutes Explanation Reduced capita... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Physics

Authors: Alan Giambattista, Betty Richardson, Robert Richardson

2nd edition

77339681, 978-0077339685

More Books

Students also viewed these Accounting questions