How to Use Porter’s 5 Forces to Assess Your Market

Identify your organization’s major threats and opportunities by assessing these five aspects of your market. As you begin your strategic planning process, it’s important to assess the market you’re competing in. A classic tool for doing so is Porter’s five forces. Dr. Michael Porter, who’s a professor of strategy, came up with this set of five forces to evaluate all the different dynamics that can affect your organization. Rivalry Among Competitors First, look at competitive rivalry, how many competitors are in the marketplace? How do they behave? How are they distributed by market share? How do they go to market, what are their core competencies? Threats of New Entry Second, look at the threats of new entry. So there’s the existing set of...



This is only the beginning of the thought... Please click the article headline above or go to http://www.thoughtleadersllc.com/blog for more.