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List the five factors that determine the nature and degree of competition in an industry,as presented by Michael Porter in his book Competitive Advantage.Why is the proper identification of these factors important for a new venture?
Capital Account
A national account that records transactions involving the acquisition and disposal of assets, such as direct investments, portfolio investments, and financial derivatives between residents and non-residents.
Financial Account
A component of a country's balance of payments that records transactions involving the purchase and sale of foreign assets and liabilities.
Net Transfers
The net amount of money transferred into or out of an entity, often considered in the context of international trade or government budgets.
Importer
An individual or firm that brings goods or services into a country from abroad for sale.
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