Porter's five forces analysis PDFFive force model

The Five Competitive Forces That Shape Strategy

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The five forces govern the profit structure of an industry by determining ... Citation. Porter, Michael E. "The Five Competitive Forces That Shape Strategy. …→ HarvardBusinessSchool→ Faculty&Research→ Publications Publications January2008 Article HarvardBusinessReview TheFiveCompetitiveForcesThatShapeStrategy By:MichaelE.Porter Format:Print ShareBar Abstract Thisarticleincludesaone-pagepreviewthatquicklysummarizesthekeyideasandprovidesanoverviewofhowtheconceptsworkinpracticealongwithsuggestionsforfurtherreading.In1979,ayoungassociateprofessoratHarvardBusinessSchoolpublishedhisfirstarticleforHBR,"HowCompetitiveForcesShapeStrategy."Intheyearsthatfollowed,MichaelPorter'sexplicationofthefiveforcesthatdeterminethelong-runprofitabilityofanyindustryhasshapedagenerationofacademicresearchandbusinesspractice.Inthisarticle,Porterundertakesathoroughreaffirmationandextensionofhisclassicworkofstrategyformulation,whichincludessubstantialnewsectionsshowinghowtoputthefiveforcesanalysisintopractice.Thefiveforcesgoverntheprofitstructureofanindustrybydetermininghowtheeconomicvalueitcreatesisapportioned.Thatvaluemaybedrainedawaythroughtherivalryamongexistingcompetitors,ofcourse,butitcanalsobebargainedawaythroughthepowerofsuppliersorthepowerofcustomersorbeconstrainedbythethreatofnewentrantsorthethreatofsubstitutes.Strategycanbeviewedasbuildingdefensesagainstthecompetitiveforcesorasfindingapositioninanindustrywheretheforcesareweaker.Changesinthestrengthoftheforcessignalchangesinthecompetitivelandscapecriticaltoongoingstrategyformulation.Inexploringtheimplicationsofthefiveforcesframework,Porterexplainswhyafast-growingindustryisnotalwaysaprofitableone,howeliminatingtoday'scompetitorsthroughmergersandacquisitionscanreduceanindustry'sprofitpotential,howgovernmentpoliciesplayarolebychangingtherelativestrengthoftheforces,andhowtousetheforcestounderstandcomplements.Hethenshowshowacompanycaninfluencethekeyforcesinitsindustrytocreateamorefavorablestructureforitselfortoexpandthepiealtogether.Thefiveforcesrevealwhyindustryprofitabilityiswhatitis.Onlybyunderstandingthemcanacompanyincorporateindustryconditionsintostrategy. Keywords Profit;FiveForcesFramework;IndustryGrowth;IndustryStructures;BusinessandGovernmentRelations;CompetitiveStrategy Citation Porter,MichaelE."TheFiveCompetitiveForcesThatShapeStrategy."SpecialIssueonHBSCentennial.HarvardBusinessReview86,no.1(January2008):78–93. FinditatHarvard Purchase AboutTheAuthor MichaelE.Porter Strategy →MorePublications MorefromtheAuthor 2022 FacultyResearch CompetitivenessRoadmapforIndia@100 By:MichaelE.PorterandChristianH.M.Ketels October26,2021 NEJMCatalyst ValueChainManagementtoImplementPost-COVID-19HealthCareStrategy:TheCOVID-19 CrisisHasCreatedAreasofInnovationThatShouldBeEmbracedbyHealthCareLeaders By:MichaelE.Porter,JunaidNabiandThomasH.Lee 2021 FacultyResearch TheChangingRoleofBusinessinSociety By:MichaelE.Porter MorefromtheAuthor CompetitivenessRoadmapforIndia@100 By:MichaelE.PorterandChristianH.M.Ketels ValueChainManagementtoImplementPost-COVID-19HealthCareStrategy:TheCOVID-19 CrisisHasCreatedAreasofInnovationThatShouldBeEmbracedbyHealthCareLeaders By:MichaelE.Porter,JunaidNabiandThomasH.Lee TheChangingRoleofBusinessinSociety By:MichaelE.Porter

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