General Studies · Strategic Management
Consider the following statements regarding the 'Bargaining Power of Suppliers' in Porter's Five Forces Model: Statement 1: Supplier power is considered high when the buying industry is a significant and indispensable customer, making the suppliers highly dependent on that industry for their revenue. Statement 2: The bargaining power of suppliers increases significantly when the supplier market is highly concentrated, lacks satisfactory substitutes, and imposes high switching costs on buyers.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statement 1 is false, but Statement 2 is true.✓
- 2Both statements are true.
- 3Both statements are false.
- 4Statement 1 is true, but Statement 2 is false.
Correct answer
Statement 1 is false, but Statement 2 is true.
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