3.7.7 porters 5 forces

Question 1

what are the 5 forces?

Answer 1

1. threat of new entrants
2. threat of substitutes
3. bargaining power of buyers
4. bargaining power suppliers
5. rivalry among existing competitors

Question 2

what is meant by threat of new entrants?

Answer 2

the new businesses are threatening existing businesses of new firms entering the industry creating competition and gaining market share