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SNHU - IT 210 Chapter 2 Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution $7.99   Add to cart

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SNHU - IT 210 Chapter 2 Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

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SNHU - IT 210 Chapter 2 Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

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  • June 26, 2024
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  • 2023/2024
  • Exam (elaborations)
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SNHU - IT 210 Chapter 2
Porter's five competitive forces - ANS-Threat of new entrants
Power of buyers
Power of suppliers
Threat of substitutes
Rivalry among existing competitors

network effects - ANS-the increased value of a product or service that results simply
because there are more people using it

switching costs - ANS-costs that customers incur when they change suppliers

power of buyers - ANS-the advantage buyers have when they have leverage over
suppliers and can demand deep discounts and special services.

power of suppliers - ANS-the advantage sellers have when there is a lack of competition
and they can charge more for their products and services.

threat of substitutes - ANS-the threat posed to a company when buyers can choose
alternatives that provide the same item or service, often at attractive savings.

disruptive innovation - ANS-a new product or service, often springing from technological
advances., that has the potential to reshape an industry

sustaining technologies - ANS-technologies that offer improvements to streamline
existing processes and give companies marginal advantages.

creative destruction - ANS-what happens in an industry when disruptive innovations
threaten the established players.

ecosystem - ANS-an economic community that includes the related industries making
complementary products and services, the competitors themselves, the suppliers, and
also the consumers.

value chain model - ANS-describes the activities a company performs to create value,
as it brings in raw resources from suppliers, transforms them in some way, and then
markets the product or service to buyers

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