A Brief Note On Porters Competitive Forces Model Essay
- Porters model gives a good view of the four competitive forces, they include: new market entrants, suppliers, substitute products, and customers. These component show the strategic position of the firm.
- It basically explains competitive advantage to be what every business strives for. If a business were to have each of the forces they would of course have the competitive advantage over the competition.
- Strategies that a business that want to keep the advantage should be a business that can keep their overhead low with efficient suppliers like Walmart, have different products coming out regularly like apple, have a unique niche just like Hilton head and have loyal customers like amazon. This would be an unstoppable business that has utilized their IT systems to their greatest potential.
- IT systems can improve each of the strategies for example, 1. Low-cost leadership- the leader in this strategy is Wal-Mart they have utilized their inventory replenishment system,…