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Porter's Five Forces is a strategic framework used in business and competitive analysis to examine an industry's attractiveness and competitiveness. It evaluates five key factors that influence the profitability and viability of businesses within that industry: Threat of New Entrants, Bargaining Power of Suppliers, Bargaining Power of Buyers, Threat of Substitute Products or Services, and Competitive Rivalry. By analyzing these forces, organizations can develop effective strategies to navigate their business environment and gain a competitive advantage.