Competition Models

Please answer each question separately. Each question must be 250-300 words each. Please be plagiarism free and also, make sure sources are cited APA.

1. The firm’s external environment is complex. The firm’s external environment consists of three parts: the general environment, the industry environment, and the competitor environment. Discuss these three parts.

2. The Five Forces Model of competition includes an analysis of the threat of entry, the power of suppliers, the power of buyers, product substitutes, and the intensity of rivalry among competitors. Discuss the Five Forces Model of competition.