The Porter’s five forces model does not adequately address the changes having taken place the last decades in the tourism industry. In addition, the model does not adequately include all actors affecting tourism firms’ environment. Based on these deficiencies of the model, the overall goal of this been set to complement, not replace, Porter’s five forces model in respect to the travel and tourism industry. This new element in four sections and these four elements cover a discussion of elements not extensively addressed by Porter’s original model but having direct influence to the tourism industry; the delivering of a new competitive forces model explicitly for tourism industry.
New elements in Porter’s model
As already mentioned there is a necessity to extend the five forces model to reflect developments and peculiarities of the travel and tourism industry. That’s why this section define elements not addressed extensively in Porter’s original model but having relevance to the level of competition in the travel and tourism industry.
A new competitive forces model for the travel and tourism industry …show more content…
This model helps on new ways of thinking about the original forces in reality. Due to changes having taken place in the travel and tourism industry, as well as the distinctive nature of the industry, it is necessary to revise the model in order to make it more relevant. Porter’s competitive forces model reconfigures Porter’s five original forces by adding two more elements, which are the power of ITs and the impact of government regulation, and, by proposing an additional element to buyer’s
New elements in Porter’s model
As already mentioned there is a necessity to extend the five forces model to reflect developments and peculiarities of the travel and tourism industry. That’s why this section define elements not addressed extensively in Porter’s original model but having relevance to the level of competition in the travel and tourism industry.
A new competitive forces model for the travel and tourism industry …show more content…
This model helps on new ways of thinking about the original forces in reality. Due to changes having taken place in the travel and tourism industry, as well as the distinctive nature of the industry, it is necessary to revise the model in order to make it more relevant. Porter’s competitive forces model reconfigures Porter’s five original forces by adding two more elements, which are the power of ITs and the impact of government regulation, and, by proposing an additional element to buyer’s