Michael Porter’s five forces model identifies the bargaining power of suppliers and buyers, the threat of new entrants and substitute products, and the existing industry competitors, which determine the level of competition and long-term profitability of an industry. Porter’s model is about the firm’s general business environment. In this assignment, you will discuss Porter’s model and how it can be used to determine the level of competition and long-term profitability of an industry. You will focus on business-level strategies and the various ways firms achieve an advantage over other firms. You will learn how to use these strategies to address a key question: How can a company use Porter’s Value Chain Analysis to measure customer satisfaction?
