An Interview with Michael E. Porter, Professor, Harvard University. Porter’s five competitive forces is the basis for much of modern business strategy. Understand the framework and how to put it into practice.
- What is causing profitability?
- What your industry is?
- What implications drive your industry?
- How to reshape your industry?
- How is the industry changing?
- In the real world the framework can be applied by any industry
- It provides a very broad perspective.
- It is a robust model with an holistic approach, competitors often looked to narrowly.
The model helps
- to understand the underlining drives and the position of the industry
- to understand how sexiness, coolness, hotness of an industry has nothing to do with profitability
- to identify the industry’s structure
- to make a good choice
- to step back to see what is important
- to understand why your industry is profitable or not