Curated from: Harvard Business Review
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The existence of competition in the market allows for companies to become motivated to increase their profits. It may feel like playing the game of tug of war, however, it is much more complex than that.
It's not about being the biggest company, but rather, profitability.
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In order to become a profitable company, we must consider the forces that influence profits:
These five forces define every industry's structure and shape companies' future. By understanding how these five forces work, you'll be able to create more competitive strategies and increase your profits.
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IDEAS CURATED BY
CURATOR'S NOTE
Competition makes markets strive to earn more than their counterpart, here, we listed the five forces that influence the competitive market.
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