Firms have a tendency to change the industry structure in their favor, making it more consolidated through horizontal mergers and acquisitions, since this tends to be more profitable than a fragmented one.
Industry structure is described as the fundamental, underlying traits that influence how a set of businesses producing closely related goods compete with one another.
Porter's industry structure perspective on strategy is based on using the industry as the analytical unit, with the players' relative bargaining power and entry barriers serving as the main sources of supernormal profit.
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