Explain the concept of competitive action and provide details about each of the factors that would affect the likelihood of a firm initiating a competitive action.

1. Explain the concept of competitive action and provide details about each of the factors that would affect the likelihood of a firm initiating a competitive action.
AND
2. Explain the process of initiating a competitive response. Differentiate between strategic and tactical responses and Explain what factors lead to a firm launching a competitive response.
This professor utilizes turnitin.com as well as other similarity detection methods. Original work is imperative.