1) The biggest surprise to me about the 5 forces that shape competitive industry was the power of the buyers. As a day trader, I know that buyers are the ones that affect the stock prices, but I never thought about how a few buyers could affect competition in an industry. It definitely makes sense to me now that a few large consumers could make or break a company.
2) The only thing I thought was confusing about the five forces was the possible introduction of a sixth force; the economy. I feel that a declining economy could definitely cause a shift in the competition of an industry.
3) 1) How do you think the economy will affect competition?
2) Could you put a ranking on the forces based on which one effects competition more? Or are they all equal?
4) I just disagree with the thought of only 5 forces affecting competition. I understand how those may be the biggest forces but I believe there could be other big forces that affect competition, like the economy. The five forces are important to understand and know for business owners in competition.
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