A tool for strategy mangement
2006-10-31 09:38:39 · 4 answers · asked by mhen 1 in Business & Finance ➔ Corporations
The five forces, namely rivalry (at the centre), supplier power, barriers to entry, threat of substitutes and buyer power, describing the interrelationships of these components constituting the industry. Whichever force stronger with respect to the adjoining force is able to influence the competition. A balance of force shapes the way these forces operate in this ecology - how an entity within imposes on the rules of game it desires in this industry.
2006-10-31 14:50:32 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Michael Porter described a concept that has become known as the "five forces model". This concept involves a relationship between competitors within an industry, potential competitors, suppliers, buyers and alternative solutions to the problem being addressed.
2006-10-31 17:48:30 · answer #2 · answered by oldhippypaul 6 · 0⤊ 0⤋
Micheal Porter is 'king of capitalism'. He invented competitive advantage and most competitive/ corporate strategies are based on his ideas. check out wikipedia for other references (but i wouldnt reccomend referencing this site in any essays!). Just to give you an idea, hes v. popular so will be easy. He has also elaborated on the 5 forces model since then, I think it was developed in 1979. so things have changed somewhat since then. Also check out anything by the Harvard Business School, hes connected to them.
2006-11-03 15:53:35 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Michael Porter is a well-known management guru. Read about his 5 Forces at www.efalken.com/banking/worldoc/Porter.html
2006-11-03 06:37:01 · answer #4 · answered by Anonymous · 0⤊ 0⤋