Answered

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What does Porter's 5 Forces Model do?

A. This model helps you assess the overall competitive environment of a particular business sector.
B. This model helps you identify the relationship between various internal and external factors and create an actionable strategy based on these insights.
C. This model shows you the competitive landscape in regard to the 2 key criteria you specify. It helps to prioritize which competitors you should look at first.

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Final answer:

Porter's Five Forces Model helps analyze industry competitiveness by examining key forces and guiding strategic decision-making.


Explanation:

Porter's Five Forces Model is a framework developed by Michael Porter to analyze the competitive environment of a business sector. It helps businesses assess the industry attractiveness by examining five key forces: Threat of New Entrants, Bargaining Power of Buyers, Bargaining Power of Suppliers, Threat of Substitutes, and Competitive Rivalry.

For example, when assessing the Threat of New Entrants, a high barrier to entry, like strong brand loyalty or government regulations, can make an industry less attractive to new competitors.

By using Porter's model, businesses can make informed strategic decisions based on the insights gained from evaluating these forces in their industry.


Learn more about Porter's Five Forces Model here:

https://brainly.com/question/33726942


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