Porter's Five Forces is a framework that helps managers and analysts understand how a firm is positioned in its industry. It's a tool used to analyze the competitive environment in which a company operates. The five forces are: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and intensity of competitive rivalry.
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Now it's time to take a big step back and focus on the macro factors. No business exists in a vacuum, and industry and market changes can become either assistance or resistance. Porter's Five Forces is one of the most tried-and-true frameworks to help managers and analysts understand how a firm is positioned in its industry.