Task: Strategic Leadership
There is a model that was developed by Michael Porter, a Harvard professor, called Porter's Five Forces for Sustained Competitive Advantage. This model states that in order to determine the vulnerability of an industry or the strength of an industry in the market, one could apply Porter's Five Forces to the industry to determine the likelihood of success in the industry.
Porter's Five Forces are:
- Rivalry of competition
- Threat of substitutes
- Buyer power
- Supplier power
- Barriers to entry
Assignment is as follows:
You are a wealthy captain of industry. Because of your good leadership and research skills, you continually seek new industries to enter, and you are quite adept at determining with great reliability whether or not you should enter an industry because you utilize Porter's Five Forces so extensively.
Find an industry other than the ones discussed in class, and research that industry to determine, based upon Porter's Five Forces, whether or not it would be viable to enter that industry. Explain each of the five forces as they apply to the industry in question, and explain your findings. Please do not select an industry that is the same as your classmates. Remember that you are not comparing an organization to the forces, but an industry.