Explain in your own words about the Porter\'s Five-Forces model of industry comp

Question

Explain in your own words about the Porter's Five-Forces model of industry competition explain the model's importance in the concept of strategic grouping with industries no text book meaning find a company with a mission statement also pick a commercial company that is not routinely discussed select a company with a mission statement and explain whether or not you think the statement is constructive and provides employees with motivation and strategic direction when reading the mission statement does it reveal the nature of the business include your mission statement in Italics

Explanation / Answer

Porter's five forces analysis is a very useful methodology to analyse the external environment effect on any organisation or industry. By applying the external five forces we can easily determine the after effects of those forces on the specific organisation.

Five forces of porter's analysis are as follows.

Competition rivalry

Knowing the competetion is very essential for any organisation to maintain their causative and image and to provide innovative solutions for maintaining the competition and to provide an advantage over different competitors.

Supplier Bargaining

Supplier bargaining capability are also analysed in porter's five forces analysis. This definitely helps the company to initiate the specific budget and to maintain the overall expenses and keeping a track of their financial status.

Customer bargaining

Customer bargaining is also a very major part of any organisation which directly relates to sell their services. As a part of bargaining, maintenance of the profit as well as overall value generation is done.

Threat of new entrants

Threat of new entrants if one of the most prominent problems for most of the organisations which is analysed in porter's five forces analysis. By analysing new entrance, strategic management for overcoming the specific newer organisation can be easily done.

Substitute threats

Rectification of the thread regarding substitution and arranging the best available strategy for the products with which the customer does not move to other brands is very essential and analysing porter's five forces analysis.

McDonalds mission statement states that, mcDonald's want to provide a perfect place for its customer to eat and dog. For creating in Ambience is one of the main mission of McDonald's. Building relationships with the community as well as providing quality service cleanliness as well as perfect value to the customer is one of the main missions of McDonald's

In and out mission statement says that provision of the fresh and high quality food is the main concern for the company in a very clean environment which is also necessary for creating a hospitality based organisation in which customer can feel comfortable while eating. When maintaining the cultural diversity in and out burger has successfully want to be an influencer in the burger industry.

My mission statements

By reducing the overall cost of the products and providing quality products with cleaner environment. Using the sustainable resources for creating a better product and using the green energy to produce the overall fuel used for the products would be the main concern. Buy heavily investing the social benefits of the society and providing different social services to the society would be the main concern of McDonald's. A safer, happier and customer oriented business program should be implemented by mcDonald's.

By providing the highly fresh organic vegetables in the burgers and increasing the overall sustainability as well as the cultural diversity of the organisation would be our main concern in In-N-Out.
By maintaining a brand image which directly focuses on the organic food rather than having invested heavily on the non organic food would be our Venky. For providing the society. Being ethical in providing a safer place for the employees to work would also be our future mission.

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