Final answer:
The forces of globalization and new communications technology have increased competition for firms, leading to shifts in the industry. Two highly competitive industries are e-commerce and technology.
Step-by-step explanation:
One of the competitive elements that includes factors such as new and shifting competition from domestic and foreign-based firms is the forces of globalization and new communications and information technology. These forces have increased the level of competition faced by many firms by increasing the amount of competition from other regions and countries.
For example, with the development of the internet and improved communications technologies, consumers can now order products from anywhere in the world. This has led to increased competition for local retail businesses and even more strongly in markets for business supplies.
Two highly competitive industries that can be identified are the e-commerce industry and the technology industry. In the e-commerce industry, companies like Amazon, eBay, and Alibaba compete fiercely to attract customers and dominate the market. In the technology industry, companies like Apple, Samsung, and Go-ogle constantly innovate and introduce new products to gain a competitive edge.