Porter's Five Forces Model: Gives You A Competitive Advantage

Dr. Yogesh Hole, Snehal Pawar and Dr. Mahesh P. Bhaskar

In this prevailing global market, due to drastic changes worldwide in scope, application, and technology, business organizations need to compete intensely with their national rivals together with international industrial players. This extreme global pressure constantly alters the industry operating environment, hence, the traditional strategies of industries are turning less effective. Therefore, the industries and companies are compelled to create the core competencies by implementing cost-effective, quality practices, with competitive pricing policies, better internet marketing, reliable strategy implementation, new ideas, creativity, and product innovations, predict improved buyer’s behavior for added customer satisfaction.This review paper explores how Michael E. Porter has created the leading Five Forces design and model with an authority to develop a competitive strategy in the competitive analysis application of social, environmental and business activities. In 1990, Porter provided this model, and presently widely accepted and also applied to measure the competitive advantage to build the business of the Nation. This review paper highlights all the aspects of Michael E. Porter Five forces design and model with critical features of Porter’s competitiveness and their concepts based on its proposed conceptual model for our study.

Volume 11 | 04-Special Issue

Pages: 1436-1448