ConceptBoard Assignment
ConceptBoard Assignment
Conceptboard provides an easy online whiteboard application for presentations and group work. Content, documents and ideas can be visualized as a perfect basis for creative interaction. You will need to create a Conceptboard account at Conceptboard.com. It is a free trial for you to try.
The image below is an example of how you can visually evaluate your chosen company. It doesn’t have to be exactly like this, just an idea to get you started.
I have attached a review of Porter’s five forces com competitive position analysis for you to read through as well as when and how to use the analysis.
Porter’s five forces of competitive position analysis:
The five forces are:
- Supplier power. An assessment of how easy it is for suppliers to drive up prices. This is driven by the: number of suppliers of each essential input; uniqueness of their product or service; relative size and strength of the supplier; and cost of switching from one supplier to another.
- Buyer power. An assessment of how easy it is for buyers to drive prices down. This is driven by the: number of buyers in the market; importance of each individual buyer to the organization; and cost to the buyer of switching from one supplier to another. If a business has just a few powerful buyers, they are often able to dictate terms.
- Competitive rivalry. The main driver is the number and capability of competitors in the market. Many competitors, offering undifferentiated products and services, will reduce market attractiveness.
- Threat of substitution. Where close substitute products exist in a market, it increases the likelihood of customers switching to alternatives in response to price increases. This reduces both the power of suppliers and the attractiveness of the market.
- Threat of new entry. Profitable markets attract new entrants, which erodes profitability. Unless incumbents have strong and durable barriers to entry, for example, patents, economies of scale, capital requirements or government policies, then profitability will decline to a competitive rate.
Arguably, regulation, taxation and trade policies make government a sixth force for many industries.
What benefits does Porter’s Five Forces analysis provide?
Five forces analysis helps organizations to understand the factors affecting profitability in a specific industry, and can help to inform decisions relating to: whether to enter a specific industry; whether to increase capacity in a specific industry; and developing competitive strategies.
| Actions to take / Dos | Actions to Avoid / Don’ts |
|
|
Lastly, I want each of you to submit a one page summary of your findings and what you learned about the company. Include the Power and the Threats that face the company, what impact does consumers buying habits have on the company, and are there any Governmental issues that could potentially impact the future of the company.
You will submit:
- The Conceptboard Link
- The One Page Summary
- A Screenshot of your Conceptboard
Have fun working with ConceptBoard!
