Business Fundamentals for PR Professionals
Porter's Five Forces is a framework for analyzing the competitive forces that shape an industry, helping businesses understand the intensity of competition and profitability potential. This model highlights five key forces: the threat of new entrants, the bargaining power of suppliers, the bargaining power of buyers, the threat of substitute products, and the intensity of competitive rivalry. By assessing these forces, companies can develop strategies to gain a competitive edge and adapt their business models effectively.
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