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Define Industry, Business and Sector. How are these related? How can Porter's five-forces model aid in strategic decision making? Describe how Risk of Entry, Bargaining

  1. Define "Industry", "Business" and "Sector". How are these related?
  2. How can Porter's five-forces model aid in strategic decision making?
  3. Describe how "Risk of Entry", "Bargaining Power of Buyers", "Bargaining Power of Suppliers", and industry competition ("Threat of Substitutes") affect the external threats a company faces. Provide examples of each.
  4. Describe the industry life cycle, what strategic groups are, and what mobility barriers are.

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