Question 1: Discuss Porter's five forces model with reference to what you know about the United States steel industry (see the Opening Case). What does the model tell you about the level of competition in this industry?
Question 2: Identify a growth industry, a mature industry, and a declining industry. For each industry, identify the following:
(a) the number and size distribution of companies;
(b) the nature of barriers to entry;
(c) the height of barriers to entry; and
(d) the extent of product differentiation. What do these factors tell you about the nature of competition in each industry? What are the implications for the company in terms of opportunities and threats?