Threat of new

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This method of competitive strategy? He has helped companies around the world for decades evaluate their circumstances against the main factors that determine the success of a business. ADVERTISEMENT Now it's your turn to learn how Porter's 5 forces work and how you should apply each of them in your business. Were you interested in the topic? So let's continue! What are Porter's 5 forces? Porter's 5 forces are part of a competitive analysis model

created by the man who bears his name, Michael Porter, professor of strategy Jiangsu Mobile Phone Number ListB and competitiveness at Harvard Business School. If you've never heard of this analytics model before, don't be fooled into thinking it's new: this concept was introduced to the world in a 1979 Harvard Business Review article. Since then, many companies have used this methodology, which consists of considering 5 "forces" that, according to Porter, can determine the position of any company in its respective market. The idea behind choosing these forces was that they never change, unlike more volatile factors such as the growth rates of a given industry, government





interventions, and even technological changes. However, it is worth noting that some of these factors can change the 5 forces from time to time - digital transformation is a clear example of this. But after all, what are Porter's 5 forces? Look at the following list: Rivalry between competitors; Bargaining power of suppliers; Bargaining power of customers; Threat of new competitors; Threat of new products or services. Let's take a closer look at what is involved in each of them. Each of Porter's 5 forces We already have a basic notion of what the 5 forces are and how they can help you in the competitive analysis of a company , but we must go