Porter's 5 Forces

Last Night we took a shift to the Business side and took a break from Technology. My undergrad degree was in Business so Porter's 5 forces was a very good review for me!
Five forces according to Porter's model are:

• The rivalry between existing sellers in the market.
• The power exerted by the customers in the market.
• The impact of the suppliers on the sellers.
• The potential threat of new sellers entering the market.
• The threat of substitutes products in the market.

In order to gain competetive advantage ane be effective in any marketplace, a business should definitely understand the dynamics of its industries.