Businesses and Market Competition
Article link: https://bb.wpunj.edu/bbcswebdav/pid-2538861-dt-content-rid-18725332_1/courses/20204041860/Porter%202008.pdf (The Five Competitive Forces that Shapes Strategy by Michael E. Porter)
In defending his famous 5-Forces model, Michael Porter had suggested that the airline industry was an example of a “bad” industry, where the five forces were against incumbents. http://www.youtube.com/watch?v=mYF2_FBCvXw. Also, in his 2008 HBR article (attached), he has a chart on page 83 where airlines are at the bottom of the list (average ROIC 1992-2006 was 5.9%, the lowest, compared to >40% for security brokers, and >37% for soft drinks and packaged software).
However, in 2012, we heard a different story, as we can see in this NYT report
Now the incumbents were sitting pretty.
Please write a 550-words essay with an original title where I would like you to answer the following three questions:
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