Week DiscussionPlease take the time to research the so-called five forces model developed by a 5150

ECON 1 A01-PRINCIPLES OF MICROECONOMICS

Question.5150 - Week 6 DiscussionPlease take the time to research the so-called "five forces" model developed by a Harvard Business School Professor, Michael E. Porter, in 1979. Describe the model in detail and explain how the "five forces" can help businesses formulate their competitive strategy.Hint: The following may help: https://www.isc.hbs.edu/strategy/business-strategy/pages/the-five-forces.aspx

Answer Below:

Michael x Porter's xxxx Forces xxxxx developed xx is x framework xxx analyzing xxx competitive xxxxxx that xxxxx every xxxxxxxx and xxxxx determine xx industry's xxxxxxxxxx and xxxxxxxxx This xxxxx is xxxx to xxxxxxxxxx the xxxxxxxx of xx industry xxx to xxxxxxxx its xxxxxxxxxxxxx potential xxxxxx of xxx Entrant xxxxx include xxxxxxxxx of xxxxx brand xxxxxxx capital xxxxxxxxxxxx access xx distribution xxxxxxxx and xxxxxxxxxx policies xxxx barriers xx entry xxxxxx the xxxxxx of xxx entrants xxxxxxxxx new xxxxxxxx must xxxxxxxx the xxxxxxxxxx of x response xxxx existing xxxxxxxxxxx which xxx deter xxxxx Bargaining xxxxx of xxxxxxxxx if xxxxx are xxx suppliers xxx many xxxxxx suppliers xxxx more xxxxx The xxxxxxxx of xxxxxxxxxxx products xx services xxxxxxx supplier xxxxx Suppliers xxxx customers xxx purchase xx large xxxxxxx have xxxx power xxxx switching xxxxx increase xxxxxxxx power xxxxxxxxxx Power xx Buyers xx there xxx few xxxxxx but xxxx sellers xxxxxx have xxxx power xxxx products xxx undifferentiated xxx easily xxxxxxxxxxxxx buyers xxxx more xxxxx Buyers xxxxxxxxx to xxxxx increases xxx exert xxxx pressure xx sellers xx lower xxxxxx Low xxxxxxxxx costs xxxxxxxx buyer xxxxx Threat xx Substitute xxxxxxxx or xxxxxxxx The xxxx available xxx attractive xxx substitutes xxx higher xxx threat xx customers xxx willing xx switch xx substitutes xxx threat xxxxxxxxx If xxxxxxxxxxx offer xxxxxx performance xx a xxxxx price xxx threat xx higher xxxxxxxx Rivalry xxxx competitors xxx equal xxxx competitors xxxx to xxxxxx rivalry xxxx growth xxxxx to xxxxxxxxx competition xxx market xxxxx These xxx lead xx price xxxx to xxxxxxxx sales xxxxxxx Low xxxxxxxxxxxxxxx leads xx more xxxxxxx competition xx price xxxx barriers xx exit xxxxx firms xx stay xxx compete xxxx when xxxx may xxx be xxxxxxxxxx Porter's xxxx Forces xxxxx helps xxxxxxxxxx understand xxx underlying xxxxxx of xxxxxxxxxxxxx in xxxxx industry xxx develop xxxxxxxxxx to xxxxxxx their xxxxxxxxxxx position