1) Stacey is the owner of a small bookshop called, "Page Turners".There are also 2 other small bookshops not too far away from her store.She started to think about competition and how it might impact her business.The business space next to her store recently became available for rent. She is now considering renting that place to make it into a small caf, attached to her bookstore to help boost her business.Her business would become a bookstore and coffee shop.

a) Considering the concept of competition, describe the type of competition her business is in and how do you know what competition it is ?

b) Take a position on whether competition is good or bad and explain why it is good or bad based on her situation. Give reasons to back up both good and bad aspects to competition as applied to "Page Turners".

c) Considering Porter's Five Forces, describe what it is, and why Stacey might consider using Porter's Five Forces to help her make a decision on if she should open up a caf or not