By the end of this guided project, you will be able to use the Porter’s Five Force model to determine the attractiveness and profitability potentials of your industry. The Five Forces is a model that was drawn from industrial organization economics to identify and describe the fundamental economic forces that shape every industry. The five forces are competition in the industry, potential of new entrants, power of suppliers, power of customers, and threat of substitute products. These forces determine the intensity of competition and hence the attractiveness and profitability of an industry. Essentially, awareness of the five forces can help you to understand the structure of your industry, and therefore stake a position is that less vulnerable
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Recommended experience
What you'll learn
Conduct analysis of the industry you want to play in to determine whether it’s attractive enough for you to enter
Identify the external factors that determine the profitability level of your potential industry
Shape your competitiveness by devising strategies to influence your external environment to your advantage
Skills you'll practice
Details to know
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About this Guided Project
Learn step-by-step
In a video that plays in a split-screen with your work area, your instructor will walk you through these steps:
Task 1: Introduction: By the end of this task, you will explain the Porter Five Forces Model
Task 2: New Entrant: By the end of this task, you will express the threat of new entrant into your industry
Task 3: Power of Suppliers: By the end of this task, you will determine the bargaining power of suppliers
OPTIONAL Assessment
Task 4: Power of Buyers: By the end of this task, you will identify the bargaining power of buyers
Task 5: Threat of Substitute: By the end of this task, you will highlight the threat of substitute products
Task 6 Competitive Rivalry: By the end of this task, you will express the competitive rivalry in your industry
OPTIONAL Assessment
Task 7: Strategic Approach: By the end of this task, you will set your strategic direction
OPTIONAL Portfolio Activity
Recommended experience
Familiarity with basic business and business terms
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Instructor
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How you'll learn
Skill-based, hands-on learning
Practice new skills by completing job-related tasks.
Expert guidance
Follow along with pre-recorded videos from experts using a unique side-by-side interface.
No downloads or installation required
Access the tools and resources you need in a pre-configured cloud workspace.
Available only on desktop
This Guided Project is designed for laptops or desktop computers with a reliable Internet connection, not mobile devices.
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Frequently asked questions
By purchasing a Guided Project, you'll get everything you need to complete the Guided Project including access to a cloud desktop workspace through your web browser that contains the files and software you need to get started, plus step-by-step video instruction from a subject matter expert.
Because your workspace contains a cloud desktop that is sized for a laptop or desktop computer, Guided Projects are not available on your mobile device.
Guided Project instructors are subject matter experts who have experience in the skill, tool or domain of their project and are passionate about sharing their knowledge to impact millions of learners around the world.