Homework
When conducting an external environmental analysis, firms often employ Porter's Five Competitive Forces model. This model guides firms as they seek to better understand their position within their industry and market, relative to their competitors. Through a thorough analysis, firms are better equipped to make strategy choices in order to maximize profits.
In a paper of no fewer than 1000 words, you must complete two tasks:
• Identify and describe each of the five competitive forces included in Porter's model in detail, using outside research to support your explanations.
• Explain how the five competitive forces within a given industry affect its profit potential, using outside research to support your assertions.
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.