Watch videos "Porter's Generic Strategies:How to stay competitive" and "The Five Competitive Forces that Shape Strategy".

Video 1 Link: https://www.youtube.com/watch?v=_p8dIU09vH0

Video 2 Link: https://www.youtube.com/watch?v=mYF2_FBCvXw

In your response, answer the following questions:

1.What is the basic idea behind the 5 Forces model?What drives the profitability of a firm in a market economy?

2.How to improve the profitability of a firm?What are the two (2) generic strategies that allow firms to stand on their own and be profitable?

3.Discuss Porter's recommendation on how to improve the profitability of a firm.What is the best way to compete so that a firm can be profitable?Explain.

Please provide good and completesupport to your statements and include a short list of references if you use them in addition to the Text and Video included.

YOU HAVE TO WATCH THE VIDEOS IN ORDER TO RESPOND. PLEASE DON'T TELL ME THERE IS NO ENOUGH INFO TO ANSWER THE QUESTIONS BEFORE WATCHING VIDEOS.