Using Porter’s Five-Forces Model, explain competitiveness for an local or a global company from retail industry.
The SWOT analysis, the PEST analysis and the Porter's Five forces model are the three most commonly used strategic models to perform the analysis of a particular industry. Where, SWOT analysis helps a company to focus on its internal and external factors, Porter's five forces model additionally helps tp find the competitiveness of the industry.
In the Porter's five forces model, five environmental forces are studies to analyze whether a particular industry is competitive enough to start or continue business in it. It helps the company to know to possible risks and then decide upon strategies to respond to such risks and competition.
Step by step
Solved in 2 steps
