Evaluate the Banking Industry in terms of the five factors that determine an industry’s intensity of competition (Michael Porter’s five competitive forces – (1) Rivalry among the existing competitors, (2) Threat of new entrants, (3) Threat of substitute products, (4) Bargaining power of buyers, and, (5) Bargaining power of suppliers [see pages 417-418]). Based on this analysis, what are your expectations about the industry’s profitability in the short-run (1-2 years) and the long-run (5-10 years)? Obtain the current Banking Industry report (2011) from the Strayer Online Resources (Select “Databases,” and then “Mergent Online” (Industry Reports); make sure that you attach the Industry report with your submission. The answer to this question should be written and organized as follows: Introduction –a. The answer must begin with an introduction that reviews the assignment or purpose of the essay answer.b. This introduction must also include an overview of the contents of the answer. Body of the Analysis –a. Provide brief overview of the industryb. Provide brief explanation and analysis of Porter’s Five Competitive Forces c. Present expectations about industry’s short-run profitability d. Present expectations about industry’s long-run profitability Summary –a. Provide a brief summary of the observations, conclusions, and expectations presented in the paper.b. No new material is introduced in the summary section. Other Suggestions –a. The use of personal pronouns is to be minimized to every extent possible. b. A company or industry is not to be referred to as “they” or “their.” A company or an industry is an “it,” and should be referred to as “it,” “the company,” use the name of the company or industry, “the organization,” etc. c. Subtitles in the answer help to structure and organize a paper or essay answer.