It involves the process of planning and designing
a course of action to achieve a specific goal or objective. It primarily focuses on the development of strategic plans, setting objectives, analyzing the environment, and identifying resources needed. IMPLEMENTATION STRATEGY
It involves putting the formulated plans into
action, executing tasks, allocating resources, and managing the process to achieve the desired outcomes. It focuses on translating the formulated strategy into actionable steps, assigning responsibilities, monitoring progress, and adapting to changes. PORTER'S FIVE FORCES MODEL
Threat of New Entrants: This force assesses the
likelihood of new competitors entering the market. Industries with high barriers to entry, such as high capital requirements or strong brand loyalty, are less vulnerable to new entrants. PORTER'S FIVE FORCES MODEL
Bargaining Power of Suppliers: This force
assesses the influence suppliers have on businesses by controlling the supply of inputs such as raw materials, components, and labor. Suppliers with high bargaining power can raise prices or reduce quality, affecting the profitability of businesses. PORTER'S FIVE FORCES MODEL
Bargaining Power of Buyers: This force
examines the influence customers have on businesses by demanding lower prices, higher quality, or better service. The bargaining power of buyers increases when they have alternatives or when their purchases represent a significant portion of a business's revenue. PORTER'S FIVE FORCES MODEL
Threat of Substitute Products or Services: This
force evaluates the availability of alternative products or services that can fulfill the same need as those offered by businesses in the industry. The threat of substitutes increases when there are many alternatives or when their quality and price are comparable. PORTER'S FIVE FORCES MODEL
Rivalry Among Existing Competitors: This force
assesses the level of competition among existing firms in the industry. High levels of rivalry result in price competition, product innovation, and aggressive marketing strategies, impacting profitability.