What role does rivalry play in the industry and what firms can do about it?

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Firms strive for a competitive advantage over competitors or rivals. If rivalry in industry is low, it’s considered to be disciplined. Sometimes this results in collusion though explicit collusion generally is illegal and not an option; in low-rivalry industries, competitive moves must be constrained informally. Though this is true firms seeking a competitive advantage can displace the disciplined market. The intensity of rivalry can be referred to as being cutthroat, intense, moderate, or weak, based...
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