The industry analysis is looking for the extent to which there is an effective balance between competition and cooperation. An unbalanced industry is likely to struggle whilst a well-balanced industry is likely to be profitable and sustainable. The 6-Forces analytic framework provides a way to corral the issues and draw out the dynamics of the industry. The 6-Forces model is presented here from an industry perspective but the model can also be used by government and other agencies wanting to improve industry performance. The UK rail industry was privatized by the instrument of the Railways Act 1993. This established a model of competition without applying the principle presented in this chapter of ensuring a balance between competition and cooperation. This has led to an industry with fundamental inefficiencies such as a wide variety of rolling stock across the rail network as separate train operating companies fight to squeeze maximum financial return from their time-limited franchises.