What do you understand by the competitive environment? Choose an industry and discuss the external framework of that industry.

The competitive environment refers to the external forces and factors that influence an organization's ability to compete effectively in the marketplace. It encompasses various elements, including industry dynamics, market conditions, competitor actions, and broader environmental factors. To illustrate this concept, let's consider the airline industry and discuss its external framework.

The airline industry operates in a highly competitive environment with numerous players vying for market share. The external framework of this industry can be analyzed using the following factors:

1. Industry dynamics:
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