in this article, porter undertakes a thorough reaffirmation and extension of his classic work of strategy formulation, which includes substantial new sections showing how to put the five forces analysis into practice. the five forces govern the profit structure of an industry by determining how the economic value it creates is apportioned. strategy can be viewed as building defenses against the competitive forces or as finding a position in an industry where the forces are weaker.
in exploring the implications of the five forces framework, porter explains why a fast-growing industry is not always a profitable one, how eliminating today’s competitors through mergers and acquisitions can reduce an industry’s profit potential, how government policies play a role by changing the relative strength of the forces, and how to use the forces to understand complements. the five forces reveal why industry profitability is what it is. in essence, the job of the strategist is to understand and cope with competition. the extended rivalry that results from all five forces defines an industry’s structure and shapes the nature of competitive interaction within an industry.
awareness of the five forces can help a company understand the structure of its the five competitive forces that shape strategy michael e. porter. porter, michael e. “the five competitive forces that shape strategy.” special issue on hbs centennial. harvard business review 86, no. 1 (january 2008): first described by michael porter in his classic 1979 harvard business review a five forces analysis can help companies assess which industries to, what is porter’s 5 forces analysis example, porter s five forces example school, porter s five forces example school, porter 5 forces, porter’s 5 forces reference harvard.
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