Some criticisms of Porter's Five Forces include its static nature, which doesn't account for the dynamic changes in markets. It also doesn't consider the influence of innovation and digital transformation on industries. Furthermore, it assumes that companies are passive recipients of their environment, ignoring the fact that companies can influence their environment. Lastly, it doesn't consider the impact of social, cultural, and political factors on competition.
What’s the best way to turn business challenges into strategic opportunities? With a structured case...
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