Next, use Michael Porter's Five-Forces Model (i.e., method of analysis) to examine the industry environment. Additionally, regarding the industry environment, you are expected to answer the following questions: "What are the boundaries of the industry?" "What is the structure of the industry?" "Which firms are our competitors?" "What are the major determinants of competition?" Finally, don't forget to analyze the operating environment. For example: evaluate the firm's competitive position; develop profiles of the firm's present and prospective customers; assess the firm's relationships with its suppliers; assess the firm's relationships with its creditors; examine the nature of labor market; etc. Bottom line: use the concepts and approaches to strategic management presented in the textbook to identify and analyze very specific opportunities and threats. (See Chapters 4 and 5)