COMPETITIVE ANALYSIS OF THE BUSINESS WITH THE MICHAEL PORTER MODEL
One way to analyze the competitive environment is to use the five forces model developed by M. Porter (1979). The strength and importance of each varies from market to market, but all are relevant when analyzing the conditions under which a business operates. These forces (factors) are: bargaining...
Saved in:
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
University of Petrosani
2021-10-01
|
| Series: | Annals of the University of Petrosani: Economics |
| Subjects: | |
| Online Access: | https://www.upet.ro/annals/economics/pdf/2021/18).%20Ghicajanu_2.pdf |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | One way to analyze the competitive environment is to use the five forces model developed by M. Porter (1979). The strength and importance of each varies from market to market, but all are relevant when analyzing the conditions under which a business operates. These forces (factors) are: bargaining power of buyers; bargaining power of suppliers; products or services that can substitute for the business offer; new competitors entering the market (new business); existing competitors in the market. In this paper I will present the methodology of applying the Michael Porter competitive analysis model, with an example at a business. being used for the purpose of setting strategic objectives in business. |
|---|---|
| ISSN: | 1582-5949 2247-8620 |