The key components of Porter's Five Forces are: 1. Threat of new entrants: This refers to the ease with which new competitors can enter the market. 2. Bargaining power of suppliers: This force analyzes how much power a business's supplier has. 3. Bargaining power of buyers: This force deals with the ability of customers to put the business under pressure. 4. Threat of substitute products or services: This refers to the likelihood of your customers finding a different way of doing what you do. 5. Rivalry among existing competitors: This force examines the intensity of the competition in the marketplace.
What’s the best way to turn business challenges into strategic opportunities? With a structured case...
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