Karen., Strategy Specialist at GBC, 1 min read, 8 min video
Learn how To Analyse The Competitive Forces In Your Industry Using Porter’s Five Forces of Competition in StratPlan
When crafting strategy to propel your business towards its vision and mission, business owners, managers and CEOs must think strategically about the company’s industry and competitive environment. Michael Porter’s Five Forces of Competition model is a well-validated concept and analytical tool that helps business owners, managers and CEOS understand the strength of the five competitive forces that every business, regardless of industry, faces. These forces include: competition from rival sellers, competition from potential new entrants, competition from producers of substitute products, supplier bargaining power, and customer bargaining power.
When we built StratPlan there were absolutely no-doubt that Michael Porters’ Five Forces model is a fundamental analytical tool to include in our strategic planning software. The entire process is simplified without compromising on quality or quantity. In brief, StratPlan allows you to use the five forces model easily to determine the nature and strength of competitive pressures in any industry. Here’s a short video to show you how to analyse the competitive forces in your industry in StratPlan.
I hope you find the video useful. Please leave me your comments. I would love to hear from you.
Start your own consulting business and Partner With Us. Retain 100% of all your profits.
Try our most innovative strategic planning software to empower your business to grow & unlock its true potential. StratPlan is free to try!
Download of essential eBook to Guiding Strategic Thinking In Your Business for free!
FREQUENTLY ASKED QUESTIONS