Michael Portes suggested competitive forces for shaping industry.
Understand the Problem
The question is referring to Michael Porter's framework on competitive forces that shape industries, known as Porter's Five Forces. This framework analyzes the competitive environment of an industry and identifies five key forces that impact profitability and strategy.
Answer
Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, Threat of New Entry.
Michael Porter suggested the following five competitive forces: Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry.
Answer for screen readers
Michael Porter suggested the following five competitive forces: Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry.
More Information
Porter's Five Forces model helps businesses understand the competitive environment they are operating in, allowing them to develop strategies that leverage their strengths and protect against competitive threats.
Sources
- Porter's Five Forces - The Framework Explained - Mind Tools - mindtools.com
- Porter's Five Forces Explained and How to Use the Model - investopedia.com
- Porter's Five Forces: Definition & How To Use The Model - Forbes - forbes.com
AI-generated content may contain errors. Please verify critical information
