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Essay / Research Paper Abstract
This 6 page paper compares and contrasts Porters Five Forces model and his concept of competitive advantage with the resource based view (RBV) model looking at commonalities and differences. The bibliography cites 5 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TErbvporter.rtf
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Unformatted sample text from the term paper:
environment, and the way it may best leverage its position to meet the organisational goals. Different approaches and models have been developed in order to create a framework that can
be used to analysis and assess the conditions and the best way to competes. Porter has developed the concept of competitive advantage which may be used along side his Five
Forces model, an alternative approach is that of the resource based view. It may be argued that these models are simple a foundation that can be used as a basis
for the analysis guiding the different areas that require consideration, just as other models, such as PEST1 or a SWOT2 model that the value in using them is created as
a result of quality input and analysis within whichever model is used (Grant, 2004). However, if this were truly the case then the models would be acceptable substitutes for each
other, but a quick scan of many business text books and practices indicates that there tend to be preferences for Porters Five Forces model (Mintzberg et al, 2008; Thompson, 2007).
However, comparison indicates many areas that the models cross over, but it may be argued that Porters approach is more prescriptive. The Five Forces model may be argued as
a tool that helps a firm to understand the way that it needs to compete and how to develop competitive advantages. Therefore, the first stage is to define the competitive
advantages concept put forward by Porter. Michael Porter has considered the way in which firms compete, and defined two types of competitive advantage. These are cost advantage and differentiation.
These are two different ways a competitor may get the edge on its rivals. The development of a competitive advantage is to increase the profit level. This is undertaken by
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