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But a favorably positioned company already in the industry may survey the very same business environment and conclude that the industry is attractive because it has the re-sources and competitive capabilities to take sales and market share away from weaker rivals, build a strong leadership position, and earn good profits...
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If the industry and competitive situation is judged relatively unattractive, more successful industry participants may choose to in-vest cautiously, look for ways to protect their long4erm competitiveness and profitability, and perhaps acquire smaller firms if the price is right; over the longer term, strong companies may consider diversification into more attractive businesses...
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