Describe the factors in Michael Porter’s “Five Forces Model” that affe

Describe the factors in Michael Porter’s “Five Forces Model” that affect the ability of any firm in an industry to earn a profit.

What will be an ideal response?

ANSWER

Threats of new entrants into the industry, bargaining power of a firm’s customers, bargaining power of a firm’s suppliers, threats of substitute products from other industries, and intramarket rivalry from other firms in the industry.