Identify an industry in which the suppliers have strong bargaining power and another industry in which...
Identify an industry in which the suppliers have strong bargaining power and another industry in which the buyers have most of the bargaining power. How does this affect potential profitability in the industries?
Homework Answers
Identify an industry in which the suppliers have strong bargaining power and another industry in which the buyers have most of the bargaining power. How does this affect potential profitability in the industries?
Answer:
An industry in which the supplier have storong bargaining power is the oil and gas industry. Oil and gas industries are the big suppliers. It is a international and national oil companies. Chevron, shell and exxon mobil or national oil companies as Saudi Aramco, gazpeom and petrobras are the big international oil companies. In this industry it affects directly to the price and these oil and gas have huge involment in business so, there bargaining power is significantly greater than buyer.
The bargaining power of buyer in oil and gas industry is relatively samall due to the nature of industry. Refineries, national oil companies,international oil and gas companies,traders are some of the main Buyers of oil and gas products. Buyers have great interest in quality of products and price. It is known as the global oil benchmarks, which determines the oil prices. In this buyer cannot affect the oil prices. The buyers buy the oil only when they satisfied by the quality of product.
Potential profitability affects the oil and gas industries:
1. Oil and gas prices and volume affects the profitability of oil and gas industries.
2. Changes in oil and gas prices impacts the performances.
3. Changes in oil and gas price may lead to affect the demand directluly.
Conclusion:
The oil and gas industry are the main industries. It undergoes a huge drastic changes. Uncertainty is the much part of oil and gas industry. The supper and buyers are the important, ihey are the main stream of the industry.
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