Answered By: Peter Z McKay Last Updated: Oct 29, 2014 Views: 7423
Answered By: Peter Z McKay
Last Updated: Oct 29, 2014 Views: 7423
Michael Porter's Five Forces Model
- IBISWorld US Industry Reports
Features over 700 reports on U.S. and Global industries written at the 5-digit level of the North American Industry Classification System (NAICS). Each report of about 25-30 pages uses Michael Porter's "Five Competitive Forces" framework.
- By: Porter, Michael
E.. Harvard Business Review, Jan2008, Vol. 86 Issue 1, p78-93, 16p, 1 diagram, 1
illustration, 1 graph, 1 map, 1 color;
(AN 28000138)Database: Business Source Premier
In 1979, a young associate professor at Harvard Business School published his first article for HBR, "How Competitive Forces Shape Strategy." In the years that followed, Michael Porter's explication of the five forces that determine the long-run profitability of any industry has shaped a generation of academic research and business practice. In this article, Porter undertakes a thorough reaffirmation and extension of his classic work of strategy formulation, which includes substantial new sections showing how to put the five forces analysis into practice.
By: Porter, Michael E.. Harvard Business Review, Mar/Apr79, Vol. 57 Issue 2, p137-145, 9p, 1 diagram; (AN 3867673) Database: Business Source Premier
This article discusses the nature and degree of competition in industry. The essence of strategy formulation is coping with competition. Competition in an industry is rooted in its underlying economics. The state of competition in an industry depends on five basic forces: the threat of new entrants, the bargaining power of customers, the threat of substitute products or services, the bargaining power of suppliers, and the battle of industry players for position among current competitors. The collective strength of these forces determines the ultimate profit potential of an industry. Understanding the underlying sources of competitive pressure provides the groundwork for a strategic plan of action.
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