Industry Analysis
Porter’s five analyses are known as industry analysis. It is a framework for understanding the structure of an industry. The purpose of porter’s five analysis is to help to verify an industry’s weaknesses and strengths, position, direction of the company. There are industry rivalry, threat of substitute, bargaining power of buyers, bargaining power of supplies, and treat of new entrants.
Industry Rivalry
Industry rivalry is usually happens when there is a competitor example, eMyBabbysitter.com. We are charge per hour with affordable price then it is an industry rivalry .Some industries are wildly competitive, to the point where we can pushed the price below than the cost where industry-wide losses occur. There are four factors such as number and balance of competitors, degree of difference between products, growth rate of an industry and level of fixed costs. Firstly, where there are a strong major competition between the existing company but one of the company are very dominant or equal in size and strength. Secondly, in degree of difference between products, where is are providing a good …show more content…
There are many ways to enter the new entrants firstly, strength of management team, where we should have a project manager to manage the team. Where the project managers have to communicate effectively and manage the company very well. Example, everyday our project manager come to oversee the place. Secondly, unique business model where our company not only take care of children we also guide them in their studies. Thirdly, investing a new approach to an industry. Where u look outside the industry what the parents looking for because now day’s parents want a good nanny to take good care their kids. Moreover, get parents feedback early by asking them their how good are we and so
Porter’s five analyses are known as industry analysis. It is a framework for understanding the structure of an industry. The purpose of porter’s five analysis is to help to verify an industry’s weaknesses and strengths, position, direction of the company. There are industry rivalry, threat of substitute, bargaining power of buyers, bargaining power of supplies, and treat of new entrants.
Industry Rivalry
Industry rivalry is usually happens when there is a competitor example, eMyBabbysitter.com. We are charge per hour with affordable price then it is an industry rivalry .Some industries are wildly competitive, to the point where we can pushed the price below than the cost where industry-wide losses occur. There are four factors such as number and balance of competitors, degree of difference between products, growth rate of an industry and level of fixed costs. Firstly, where there are a strong major competition between the existing company but one of the company are very dominant or equal in size and strength. Secondly, in degree of difference between products, where is are providing a good …show more content…
There are many ways to enter the new entrants firstly, strength of management team, where we should have a project manager to manage the team. Where the project managers have to communicate effectively and manage the company very well. Example, everyday our project manager come to oversee the place. Secondly, unique business model where our company not only take care of children we also guide them in their studies. Thirdly, investing a new approach to an industry. Where u look outside the industry what the parents looking for because now day’s parents want a good nanny to take good care their kids. Moreover, get parents feedback early by asking them their how good are we and so