Explanation required with supporting references for the answer as below homework.

In mature industries, most or all of Porter's (1980) five competitive forces are high. For example, entry barriers are usually high because the industry tends to be dominated by large firms selling large volumes and making marginal profits per item sold. Therefore a new entrant would need to come in on a large scale in order to compete. Also, buyers are powerful, being experienced, knowledgeable and discerning, willing to shop around for better value for money, or they are brand loyal. Intra-industry rivalry is intense, characterised by aggressive price and promotional warfare. Substitute products usually also abound.Identify an industry that is in the mature stage of its life cycle by considering those where Porter's five competitive forces are high. Now look at an emerging sector of a recognised industry and use Porter's framework to identify where the five competitive forces are weak.Post a brief summary of your analysis on the Discussion Board on Blackboard. Make sure you comment on other posts.

True/False

1. The analysis of the macro environment applies to the organisation, not the industry.

2. Over the past twenty years, Porter's Five Forces model has dominated the strategic theory.

3. Strategic management cannot be applied to the tourism and hospitality business because it is unlike other industries.