Porter's Five Forces framework assesses the competitive intensity and attractiveness of an industry by analyzing five forces: the threat of new entrants, the power of buyers, the power of suppliers, the threat of substitute products, and the intensity of rivalry among existing competitors. This framework helps organizations understand the factors affecting profitability in an industry and informs decisions about entering or increasing capacity in an industry or developing competitive strategies. The model works best when applied to an entire industry rather than an individual firm. It is also important to consider the impact of government and changing industry characteristics over the industry lifecycle when using this framework.