Does the industry contain markets that are ripe for innovation or are underserved?
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What makes an industry more attractive?An attractive industry is one which offers the potential for profitability. If a company uses Porter's 5 forces industry analysis and concludes that the competitive structure of the industry is such that there is an opportunity for high profits, then the company can elect to enter that industry or market.
What makes an industry attractive for investment?The innovation activity of the enterprise determines its potential market opportunities and attractiveness for the investor, and profit growth is ensured mainly due to: production of new products; development of new markets; growth of labour productivity; use of new raw materials.
Why is industry analysis necessary What are the characteristics of an attractive industry from an entrepreneur's view point?Industry analysis, for an entrepreneur or a company, is a method that helps to understand a company's position relative to other participants in the industry. It helps them to identify both the opportunities and threats coming their way and gives them a strong idea of the present and future scenario of the industry.
What are characteristics of an industry?Industry is a component of business which is related to the production of goods. It has some distinct characteristics such as production, utility creation, economic activity etc. Industry is an economic activity.
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