Question: Ch 3 External Analysis: Industry structures, competitive forces and strategic groups List and explain the Porter's Five Forces model. What are the two key insights

Ch 3 External Analysis: Industry structures, competitive forces and strategic groups

List and explain the Porter's Five Forces model. What are the two key insights that form the basis of Michael Porter's seminal five forces model?

Explain why it is important for organizations to analyze and understand the external environment in the context of COVID-19 crisis. Provide a suitable example.

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