Objective: This assignment focuses on analyzing an industry using Michael Porter's Five Forces Framework. You will evaluate the competitive forces affecting the industry and develop strategic recommendations for a specific firm. The analysis should provide insight into both current conditions and potential future shifts, but does not require extensive research. Instructions: 1. Industry Selection and Focused Research: Choose an industry that interests you or aligns with your career goals. The industry should have enough depth for analysis but does not require exhaustive research. Conduct focused research on current industry conditions and historical trends to anticipate future changes. Utilize sources like academic journals, industry reports, and market analysis, but limit your research to the most relevant and recent materials. 2. Five Forces Analysis: Apply Porter's Five Forces Framework, giving a concise analysis of each force in the context of current and potential future shifts: Competitive Rivalry Threat of New Entrants Bargaining Power of Suppliers Bargaining Power of Buyers Threat of Substitutes Support your analysis with relevant and recent data and trends. 3. Strategic Recommendations: Identify a firm within the selected industry and devise strategic recommendations aimed at bolstering its competitive edge. Critically, these recommendations should be derived from the specific insights uncovered in your Five Forces analysis. For each force analyzed, suggest at least one strategy that: Mitigates the risks or leverages the opportunities identified within that force. Is feasible and actionable, considering both the current industry landscape and anticipated future developments. 4. Formal Report: Compile your findings and recommendations into a well-structured report. Use visuals like charts or graphs to summarize industry dynamics and expected changes. Cite your references in a standard format, focusing on the most pertinent sources