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The first group of firms in the retail sector, such as Amazon and Wal-Mart, are not monopolistic entities. Although the firms are dominant in their industry, they still allow competition from other firms. The retail sector has a steady stream of entrants. Ideally, group two firms in the telecommunication sector thrive in an oligopolistic environment. Here, a few firms control a large part of customers and sales in the market. Few companies offer telecommunication services.
Specifically, this analysis will focus on Amazon, which is one of the leading online markets. Amazon has been able to integrate business challenges such as the ones in porter’s analysis to thrive safely in the competitive business world (Xiang & Wang,2021). Michael Porter’s tool, the Five Forces Analysis, can be used to assess the external situation of Amazon company. In the case of analyzing external concerns surrounding Amazon, these are simply the conditions of the e-commerce environment, with a focus on the online retail market. However, the analysis also touches on other areas, such as digital content distribution, consumer electronics, and cloud computing services. To date, Amazon remains one of the largest companies in the e-commerce market; in particular, it is one of the pioneer organizations.
Amazon has regularly evaluated external factors in the online and non-online business environment to ensure they still control the industry through the Five Forces Framework. Remember that the force of competitor firms such as Walmart, Google, Microsoft, and Apple can be tackled using the right strategies. Since Amazon competes with many small firms and big stores, it must ensure that it remains resilient in the wake of changing online business environment. This is by ensuring competition is regulated and the bargaining power of buyers and customers.
Reference
Xiang, J., & Wang, B. (2021). AMAZON FINANCIAL MODEL. European journal of economics and management sciences, (2), 16-28.
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