Porter's Five Forces is a strategic tool you can use to assess your competitive position and identify ways to boost your profitability.
When you understand the forces affecting your industry, you'll be able to adjust your strategy, boost your profitability, and stay ahead of the competition. For example, you could take fair advantage of a strong position or improve a weak one, and avoid taking wrong steps in the future.
In this article, we explore each of Porter's Five Forces and show you how to use them to analyze your organization's strengths and weaknesses, and how to identify critical factors that may affect your profitability.
This product is a downloadable item.
All our articles are available for free to Mind Tools Club members. Go to www.mindtools.com to sign up and gain full access.