Porter’s five forces was introduced by Michael S. Porter in his first article in Harvard Business Review marts-april 1979. The title of the article was “How Competitive Forces Shape Strategy”.
The model identifies five competitive forces which affect the company’s competitive position – these are:
– Existing competitors in the industry
– Threat of new entrants coming into the industry
– Bargaining power of the suppliers to our firm
– Bargaining power of buyers
– Threat of substitute products or services
0:00 Introduction of the author and the models five competitive forces
1:13 Competitive force – Rivalry among existing competitors in the industry
4:44 Competitive force – Threat of new entrants
8:22 Competitive force – Bargaining power of suppliers
10:17 Competitive force – Bargaining power of buyers
13:09 Competitive force – Threat of substitute products and services
14:19 An example of the application of the model – app to mobile phone
15:45 Criticism of the model
You might benefit from:
Michael Porters generic strategies
Michael Porters value chain
Michael Porters diamond model
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