Essentials of Porter's Five Forces Analysis
Assess the forces impacting your industry and company in order to develop an optimal strategy.
Porter’s Five Forces is a powerful and proven framework for analyzing a company’s environment or industry and using this insight to develop a well informed response strategy. The Porter approach looks at five fundamental forces:
- Bargaining power of suppliers
- Bargaining power of buyers
- Threat of substitute products or services
- Threat of new entrants to the industry
- Level of competitive rivalry between existing players
Understanding these forces and how they are playing out in your industry is a critical element in strategy development. In this Expert Toolkit Guide you'll get:
- Provide an overview of the Porter’s Five Forces Approach and outline how it adds value in a business context
- Outline the four key steps involved in conducting a Porter’s Five Forces Analysis
- Provide detailed questions and considerations to use when conducting a Porter’s Five Forces Analysis
- Explain the benefits and limitations of Porter’s Five Forces Analysis
Having an understanding of the Porter's Five Forces theory and an ability to apply it in a practical manner will make you an impact player.
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