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In strategic planning, firms analyze the competitive environment in order to adapt to or influence the nature of competition. A general rule of thumb about this analysis is: The more power each of these forces has, the less profitable the industry will be. There are five forces:

1. Customers

2. Rival Firms

3. New Entrants

4. Substitutes

5. Suppliers

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Q: What is competitive environmental forces influence the firm's strategy?
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