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Five Forces In The Industry

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Running Head: FIVE FORCES AFFECTING HEALTHCARE SECTOR Five Forces Affecting Healthcare Sector Student’s Name Institution Date 1 FIVE FORCES AFFECTING STRATEGY FORMULATION 2 Introduction The five forces analysis is an approach used to analyze the various factors that could affect the strategies formulated by a given firm and result in performances not expected by the firm. These five forces determine the competitive advantage any given firm could have if properly analyzed and reacted upon. These forces include the following; The intensity of rivalry This force examines the degree and intensity of competition from other related firms that are currently prevailing in the market. It is generally determined by the total number of competitors in that market. The higher the number of competitors the lower the competitive rivalry. With a high rivalry in competition, there comes increased advertising and more price wars leading to adverse effects on that given business (Kunc, M. 2018). When there are two clinics or hospitals in a given region, the will be two competing firms both seeking for a market in the region. This will, therefore, call for more advertising and other cost-increasing activities aimed at attracting more customers to the individual firm that carries out these activities. The implication of this will be decreased profits for the firms. This, therefore, calls for a plan to curb this force. The threat of new entrants This force examines the ease or difficulty t ...
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