Using Porter's 5 Forces Model to Analyze Your Startup's or Small Business' Industry -

Posted by CateCosta under Strategy
From http://www.catecosta.com 3345 days ago
Made Hot by: AmyJordan on September 24, 2015 9:46 am

When building a strategic plan, entrepreneurs must understand their industry and their competition. One way of analyzing these is through Porter's 5 Forces. Here's how it's done.

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Comments

Written by AngelBiz
3343 days ago

Good job explaining the difficult concept and relating to small business.

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Written by CateCosta
3342 days ago

Thanks!

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Written by lyceum
3343 days ago

Nice overview of Porter's model. Will social media and tech development be factors for a paradigm shift in the future?

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Written by CateCosta
3342 days ago

I don't think social and tech will lead to a paradigm shift at all - they're just things to consider as you analyze the 5 forces. All of the 5 forces are still relevant and any new tech doesn't create a new force, it just changes the way the already identified forces act on a particular business in a particular industry.

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