Industries are shaped, Michael Porter argued, by five forces of competition: industry rivals, potential new rivals, substitute products, suppliers, and buyers. The time has come to add a sixth force to the famous strategy-making framework: the public interest.
…As Porter showed, companies compete for profits with their customers and their suppliers, but that doesn’t mean that they view those groups as adversaries. Rather, it means that companies understand that they need to share the profits in a market with their customers and suppliers, that blindly pursuing their own narrow interests would end up destroying their businesses. Only when companies see the public in similar terms will they treat its concerns with equal seriousness.
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