Industry and business analysis is very important in formulating corporate strategy. One way is to use the Structure Conduct Performance (SCP) model. In practice, there is criticism of the SCP model which is closely related to Michael Porter's 5's forces model. Explain these interrelationships and give examples of their application in a particular industry.

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The StructureConductPerformance SCP model and Michael Porters Five Forces framework are both widely used tools in strategic management for analyzing industries and guiding corporate strategy While the... View the full answer