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Briefly Describe Michael Porter's Five-Forces Model of Industry Competition

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Essay

Briefly describe Michael Porter's Five-Forces Model of industry competition.Why is it important to pay attention to these five forces of competition?


Definitions:

Strong Base

A strong base is a substance that can completely dissociate into its ions in aqueous solution, resulting in a high pH.

Weak Base

A base that does not fully dissociate in solution, resulting in a relatively low pH compared to strong bases.

pH

A scale used to specify the acidity or basicity of an aqueous solution, with values ranging from 0 (very acidic) to 14 (very basic), and 7 being neutral.

pH

A numerical scale ranging from 0 to 14 that determines the level of acidity or alkalinity in water-based solutions.

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