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Porter's Five Forces - Problem Solving Techniques from MindTools

Porter's Five Forces - Problem Solving Techniques from MindTools
Assessing the Balance of Power in a Business Situation Assess the balance of power in a business situation, with James Manktelow & Amy Carlson. The Porter's Five Forces tool is a simple but powerful tool for understanding where power lies in a business situation. This is useful, because it helps you understand both the strength of your current competitive position, and the strength of a position you're considering moving into. With a clear understanding of where power lies, you can take fair advantage of a situation of strength, improve a situation of weakness, and avoid taking wrong steps. This makes it an important part of your planning toolkit. Conventionally, the tool is used to identify whether new products, services or businesses have the potential to be profitable. Understanding the Tool Five Forces Analysis assumes that there are five important forces that determine competitive power in a business situation. From "How Competitive Forces Shape Strategy" by Michael E. Using the Tool

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