1. Imagine you are thinking about entering an industry. Name the industry and specifically explain how you could use Po
Posted: Mon Jun 06, 2022 4:38 pm
1. Imagine you are thinking about entering an
industry. Name the industry and specifically explain how you
could use Porter’s Five Forces model to impact at least two forces
you would encounter in your new venture. For example:
Starting a coffee shop, using coupons to reduce the price for
frequent customers and therefore reduce the bargaining power of the
customers as they will become more loyal. (Don’t use this as
one of your examples!)
a. In the industry you are thinking about entering.
How would you use Porter’s model of competitive
strategies? Which strategies would you select, why and how
would you implement each?
b. Understanding the value chain model and thinking about
your new company, describe your primary activities and your support
activities.
c. Describe your company’s main business
processes.
industry. Name the industry and specifically explain how you
could use Porter’s Five Forces model to impact at least two forces
you would encounter in your new venture. For example:
Starting a coffee shop, using coupons to reduce the price for
frequent customers and therefore reduce the bargaining power of the
customers as they will become more loyal. (Don’t use this as
one of your examples!)
a. In the industry you are thinking about entering.
How would you use Porter’s model of competitive
strategies? Which strategies would you select, why and how
would you implement each?
b. Understanding the value chain model and thinking about
your new company, describe your primary activities and your support
activities.
c. Describe your company’s main business
processes.