Illustrates the concept of Driving Forces

Question

Illustrates the concept of Driving Forces?

Answer 1

1. Although it is important to judge what growth phase an industry is in, there is a more analytical value in identifying the exact factors causing the fundamental industry and competitive adjustments.

2. Industry and competitive conditions alter because certain forces are tempting or pressuring industry participants to change their actions.

3. Driving forces are those that have the major influence on what types of alters will take place in the industry’s competitive environment and structure.