Porter’s Five Forces model is a critical element of strategic analysis that helps companies decide how to shape the balance of competitive forces to maximize profitability. □Bonus! We will also provide you with free templates to help you implement this framework to strengthen your business strategy. In this article, we will give you an overview of Porter’s Five Forces competitive analysis framework, explain key pitfalls you need to avoid during industry analysis, give you examples of the model in real-world, and show you possible strategies you can undertake to create a winning position in your industry and among your competition. You can use Porter’s Five Forces Model to take a step back, analyze and fully understand your competitive environment before you make any strategic decisions. Where can you find a position amongst your competitors that is profitable and difficult to attack?.What forces beyond direct competitors shape your industry?.Porter’s 5 Forces is a straightforward strategic framework that can help you answer these questions and reduce the share of profit leaking to your rivals: With today's fierce competition in almost every industry, it's not a question of if, but it’s a matter of how. Every business strives to prevent its competitors from stealing its profits.
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