Porter's five forces: the visual model for a simple analysis of the competitive environment
Published on
2020-10-07
Was live
2020-10-07
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With the Porter's 5 Forces Model, analyze all the forces that weigh on your market to build, as a team, the most appropriate development strategy. Working as a team, analyze your competitive environment and determine the best development strategy. Analyze all the external forces and threats affecting your market then decide which most significant in determining market competition. As a team, decide how to best limit the impact of the most powerful forces. This method is central to each business's strategic planning and enables you to identify its competitive advantages within a particular market and to work out which strategy is best suited to the context.
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Porter's 5 forces, a strategic analysis tool at the service of your development.
Created in 1979 by Michael Porter, professor of strategy at Harvard, this tool aims to analyze an organization's competitive environment.
As a team, take stock of the power that customers, suppliers, substitutes, potential entrants and the intensity of competition have on your market. Evaluate each of them and focus on the most important ones to find solutions that would limit their impact.
Using Porter's 5 Forces, work as a team to determine the strategic actions you need to take to create your competitive advantage and reverse the forces.
