4. ____________ identified five industry forces which must be considered by managers for
formulating strategy.
A. Porter
B. F. Taylor
C. Max Weber
D. Elton Mayo
A. Porter
A. Porter
The answer is A. Porter.
To find the answer, you can start by recognizing that the question is asking about someone who identified five industry forces for formulating strategy. One way to approach this is by thinking about well-known management and business theorists.
F. Taylor (B) is often associated with scientific management, which focuses on improving efficiency and productivity in the workplace. This doesn't directly relate to the question.
Max Weber (C) is known for his work on bureaucracy and organizational structure, which is not directly related to industry forces.
Elton Mayo (D) is known for his Hawthorne Studies, which focused on employee motivation and productivity but not specifically on industry forces.
This leaves us with A. Porter, who is Michael Porter, a renowned management theorist. Porter's Five Forces Framework is a widely accepted model for analyzing the competitive dynamics of an industry. It identifies five forces: competitive rivalry, supplier power, buyer power, threat of substitutes, and threat of new entrants. Managers often consider these forces when formulating strategy.
Therefore, the correct answer is A. Porter.