Michael Porter suggests that “Competition in an industry is rooted in its underlying economics, and competitive forces exist that go well beyond established combatants in a particular industry. The problem for the strategist is to determine which of those forces are relevant, and to what extent”. You are required to identify the five competitive forces in the environment of a firm and discuss the threat posed to the firm by each of those forces
In Porter’s view, an organization’s ability to compete in a given market is determined by that organization’s technical and economic resources, as well as by five environmental “forces,” each of which threatens the organization’s venture into a new market. The Read more