a. Describe the 4P´s of your firm b. Describe the scope of your firm (i.e., which process your firm does internally and which it outsources). c. Describe the competitive environment that your firm operates in: state roughly how many competitors it has, name a few of the competitors, and whether firms in the market that your firm operates in compete in prices or quantities (or something else). d. Which strategies could your firm use to limit competition?
a. Describe the 4P´s of your firm b. Describe the scope of your firm (i.e., which process your firm does internally and which it outsources). c. Describe the competitive environment that your firm operates in: state roughly how many competitors it has, name a few of the competitors, and whether firms in the market that your firm operates in compete in prices or quantities (or something else). d. Which strategies could your firm use to limit competition?
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Question
Let´s suppose that you want to set up your own firm. You are free to choose what your firm produces or what services it offers. Answer the following questions about your firm (give short answers).
a. Describe the 4P´s of your firm
b. Describe the scope of your firm (i.e., which process your firm does internally and which it outsources).
c. Describe the competitive environment that your firm operates in: state roughly how many competitors it has, name a few of the competitors, and whether firms in the market that your firm operates in compete in prices or quantities (or something else).
d. Which strategies could your firm use to limit competition?
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