Watch this video http://harvardbusinessonline.hbsp.harvard.edu/flatmm/hbrextras/200801/porter/index.html
It may be useful for your final working project.
Subscribe to:
Post Comments (Atom)
About us...in the Sicilian newspaper
Man6636 - Summer A, 2008 - The class
.jpg)
Groups of students in class
Man6636 - Summer A, 2008 - The class again!
.jpg)
Thank you Maurizio
.jpg)
Etna Valley and Etna HiTech
.jpg)
Professor Faraci doing a lecture
.jpg)
Back to back - The class of Man6636 on SummerB 2007
Back to back - The class of Man6636 on SummerA 2006
Back to back - The class of Man6636 on SummerB 2005
Back to back - The class of Man6724 on SummerB 2005
University of Catania (Italy)
The School of Business Economics and Management
6 comments:
I thought it was humorous how Porter refered to the airline industry as a "cool" industry for people to get involved with despite how it is an unfavorable industry because of the lack of profits. And the soft drink industry as a "Licence to mint money". I think this video will be helpful for the project.
Todd Allen
I have heard a lot about Michael Porter in several business classes at UF and it was good to finally see him speak. I found that in the interview Porter emphasized strategy formulation as the reason for firms to use his competitive forces model. I think it is sound advise that firms should use this model to find a niche in an industry where they can command the highest profits instead of getting "trapped or tricked" into the latest business trends. I learned that it is not enough only to choose a sound business strategy but also to make sure that buyers, suppliers and rivals know and understand your firm's strategy in order to be successful.
Michael
It's really good to see Michael Porter speak. Five forces is a very useful tool to analyze any business case and situation. I already learned it in my college. After I came to UF for master degree this spring, the different brainstorming of five forces also bring me fresh ideas.
I am very interested in supplier management and supplier power is also a strong force related to a company whether they can make profit. There are more and more companies focusing on their supplier management to make it become more effective. Sun Microsystems is an electric company which comes up good ideas in their supplier management. They Standardize most components and outsource most of their manufacturing to save cost. In addition, they use scorecard to evaluate their cooperate supplier and give rewards in the right time. Sun Microsystems try to set a goal with its supplier that “ Bring the new technology to market.” It is a big incentive to lead a “win-win” result
Porter's 5forces is obviously a very useful tool to understand the industry characteristics but as Michael Porter claims, the way to implement this analysis is that companies should pay attention not only to industry infrastructure but also how industry is changing.5forces model gives tool to understand the dynamics and for companies how to position themselves in different circumstances.
Gulver Karamemis
As for the five forces model,I think it can only provide a model to analysis an industry from the perspective of a company with average competitiveness. If a company makes decision whether to enter an industry only based on five forces model, it may fail to get above-average return. In "cool" industry like airline, there are profitable company like Southwest; while in those "hot" industries,like soft-drink, there're some losers. The decison whether a company should enter a industry should be made not only based on industry ananlysis but also resources and capbilities of the company itself as well as the institutional and cultural environment. Choosing a "profitable" industry won't ensure profit; just choose the RIGHT industry which matches your company's resources and capabilities and also the general environment.
It was interesting to not only learn more about Porter's Five Forces, but also learn about new concepts, such as positive sum competiton. It was definitely helpful to hear Michael Porter elaborate further on his Five Forces model, which has shaped our learning so much. Also, it was interesting that Porter pointed out how employees need to know the firm's strategy so that they can be on the same page as management. This makes complete sense, and yet when he wrote his article 30 years ago, this wasn't the most popular view of strategy.
Post a Comment