Advanced Strategic Management Writing Assignment

When conducting an external environmental analysis, firms often employ Porter’s FiveCompetitive Forces model. This model guides firms as they seek to better understandtheir position within their industry and market, relative to their competitors. Through athorough analysis, firms are better equipped to make strategy choices in order tomaximize profits.In a paper of no fewer than 1000 words, you must complete two tasks:1. Identify and describe each of the five competitive forces included in Porter’smodel in detail, using outside research to support your explanations.2. Explain how the five competitive forces within a given industry affect its profitpotential, using outside research to support your assertions.Note: Outside research is required for this assignment. You must include no fewer than5 outside sources (not including the textbook). These sources should be scholarly;appropriate sources include academic and industry trade journals. As graduate students,please refrain from using non-authoritative source such as internet blogs, websiteswithout author names/credentials, etc. Be sure to properly cite all of your sources inorder to avoid plagiarism. All submissions will be checked via Turn-It-In similaritydetection software! Use APA style, as this is the preferred style for the Business field.