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Essay / Research Paper Abstract
Porters Five Forces; Theoretical Application in the UK This 9 page paper looks at the theoretical basis of Porters five forces theory and considers why and how it van be of value to business managers. The paper considers each of the five forces in turn and discusses them using UK companies to illustrate points raised. The bibliography cites 5 sources.
Page Count:
9 pages (~225 words per page)
File: TS14_TEtheor5for.rtf
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Unformatted sample text from the term paper:
is the need to take into account a great deal of information. Companies may have a good understanding about what they do and how they operate, but they do not
operate in a vacuum, there are many influences that do, or may be felt, effective planning needs to consider these influences. One model that is used widely is that of
Porters Five Forces Model, which we can argue is just as applicable to be used in the UK as in the US where it was developed. By looking at the
theoretical basis of the model the reason it is so useful can also be considered. The five forces model may be argued as a good theoretical framework, if used properly.
Michael Porter is a respected business commentator. Porters Five Forces Model considers the external macro effects on an organisation in a business
environment (Porter quoted in Goett, 1999). His five forces model is designed to show how the external environment can affect the way a business operates and that any strategy a
business undertakes should take these factors into consideration when analysing their position and possible future (DAveni, 1999). In this way the changes that are made can be planned to minimise
the negative influence and reduce their impact as well as taking advantage of any positive circumstances. Where specific threats or opportunities exist there are some generic strategies that can be
applied. It is only by understanding these external forces the business manager will be better placed to deal with them when they come to play. The five forces Porter identifies
are the existing competitors, the threat of new entrants, substitute products (or services), and the power of purchasers and suppliers. Porter does not see these external factors as working alone,
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