A Quick Glance!
Every industry functions differently, however, the five competitive forces are responsible for shaping the weaknesses and strengths of every firm. To gain a wider horizon on this concept, assignments based on Porter’s Five Forces Model are handed over to students. Being a management student, you might have often come across such assessments, haven’t you? So, let me give you a glimpse of how our management assignment help expert at My Assignment Services approaches the questions involved in these tasks.
Let Us Recall What Porter’s Five Forces Are
This is quite a popular model in management studies that are used in analysing different competitive forces that affect an organisation directly. With the help of this analysis, we can determine the strengths and weaknesses of that firm.
Also, porter’s five forces model helps recognise the structure of an industry and formulating various corporate strategies based on it.
As per our management experts and assignment writers, following are those five forces that you should have already come across in your management course:
- Competition prevalent in the industry
- Threat of the substitute products
- Potential of new entrants into the specific industry
- Power of customers
- Power of suppliers
Based on these forces, students have to complete the assignments that they get under this topic.
Industry Analysis Assignment Example
If dealing with these complex assignments is giving you a hard time, then no need to worry as we have covered it all for you. Over the years, a lot of students have come up to our management assignment writers and got their doubts cleared.
With the help of a management assignment example on porter’s five forces model industry analysis assessment, we will show you the basic approach that is followed by our professional team.
So, this is the management assignment question that was recently solved by one of our management experts. As you can see, this is based on the porter’s five forces model, so let us show how we do these assignments.
First of all, we choose two industries, one that is attractive and the other that is not, as asked in the question.
After choosing both, we conduct the analysis and make note of the following:
1. Competition in the industry
We conduct extensive research on the competitors of each industry that we have chosen. Larger the competitors more will be the services and products to be analysed. When the competition is high, the prices would be low and vice versa.
2. Threat of the substitute products
There is always a threat based on the substitutes that can be used in place of the products or services of a company. Naturally, a company that does not have any substitutes will be more successful. This is because customers won’t have any other option to forgo the purchasing of their product.
3. Potential of new entrant into the industry
There is a deep impact of the entry of a new entrant on a company. This is why we study the industry properly and trace out this new entry for the chosen company. Based on this, we focus on making the company stronger so that no entry can enter.
4. Power of customers
For every industry, a customer is a god. And these customers have a lot of power to drive the prices. However, this would be dependent on the number of customers that each company has. A firm that has a small client base would be weaker in standing firm on their prices.
5. Power of suppliers
There is also a direct link in the way each supplier associated with the firm affects the cost of the inputs, the uniqueness of the inputs. If there are fewer suppliers in an industry, the company would depend more on them. So, we choose a company that has a strong supplier base so that there are minimal costings on them.
Based on these forces, we answer the questions that are asked. So, after analysing these five forces, our management assignment help professionals complete drafting the answers for students. If you still have any doubt about porter’s five forces model, then you can always submit your requirements at My Assignment Services and we will help you clear them.
Ace Any Assignment On Porter’s Five Forces Model by Taking Help From Our Management Expert
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