Question: Question 3: Porter's Five Forces analysis is a powerful tool for understanding where power lies in a business situation. This tool is useful for understanding

Question 3: Porter's Five Forces analysis is a powerful tool for understanding where power lies in a business situation. This tool is useful for understanding both the strength of an organization's current competitive position and the strength of a position the organization is looking to move into. Discuss the components of Porter's Five Forces analysis and explain how managers can use this analysis to make strategic decisions. Include examples to enhance your discussion. [Total 25 marks]

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