When completing an industry analysis, it is important to make sure your conclusions are consistent with the actual long-run profitability of the industry. That is, if you conclude that all five forces are intense or high, the average long-run profitability in the industry should be low. True False Research done by Henry Mintzberg suggests that strategy formulation is typically an irregular and a discontinuous process. should be followed unswervingly to ensure success of the plan. is a process to which organizations find they must make significant yearly changes. should be reviewed after a specific interval of time to make sure it is still applicable. is merely a checklist of actions following a logical process. According to Porter, to an industry bring new capacity and a desire to gain market share that puts pressure on prices, costs, and the rate of investment necessary to compete. new entrants substitutes rivals suppliers