Produce an outline for: Micro and Macro External Analysis $($Due $06/16/25)$

In the business world, we have at some point used various acronyms to be guided in the works we undertake be it personal or business.$$ As humans we must be able to recall important things in a logical and holistic way.$$ No wonder the Harvard graduate, Michael Porter coined The Five Forces analysis which helps entrepreneurs and new entrants navigate the market to ascertain its viability before making the big decision of entry.$$ These prospective businesses are able to analyze the competitiveness of an industry as this can determine its profitability. At the core of its theory is rivalry among existing competitors, which revolves around:$$ threat of new entrants, bargaining power of suppliers, bargaining power of buyers, and threat of substitute products or services $($Rice University, $2019).$