![]() More often these are tech giants and startups fueled by a new platform for digital business. ![]() Not only do businesses have to account for the traditional industry competitors, but as well as the new entrants from outside the industry. Porter wrote Competitive Strategy, a notable book which details “the rules of competition are embodied in five competitive forces: the entry of new competitors, the threat of substitutes, the bargaining power of buyers, the bargaining power of suppliers, and the rivalry among the existing competitors.”Īs more businesses and entrepreneurs are born, more competitors enter the industry, which is the first force of industry competition. ![]() Porter’s model of the five forces of industry competition. “How digital business disrupts the five forces of industry competition” gives an overview of how exactly digital business is overpowering traditional business models and the “norm” of industry competition. How Digital Business is Disrupting Industry Competition, Including the Bargaining Power of Buyers and Suppliers
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June 2023
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