Prepare your word file to answer the following questions-- on your "practice" venture
1. Competition is the way of life in the U.S. The extent of “rivalry” may vary (low to high). Porter identifies four factors that determine the extent of rivalry. Can you briefly discuss the effect of each of the four factors (on total rivalry) in the context of your chosen practice venture (for the term)?
2. There are several “entry wedges” that are expected to boost a venture’s chance at early success . Identify the various “wedges” that can be used in the context of your chosen venture.