According to Michael Porter, five competitive forces define the nature of competitiveness in a given industry: 1) rivalry among competing firms, 2) potential entry of new competitors, 3) potential development of substitute products, 4) bargaining power of suppliers, and 5) bargaining power of consumers.

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Michael Porter's Five Forces framework identifies these five forces as key factors that shape the competitive landscape and profitability of an industry.

According to Michael Porter, Five Competitive Forces Define the Nature