Porter's five forces model helps in strategic planning by providing a framework to analyze the level of competition within an industry and business strategy development. It helps identify the sources of competition and understand the strengths and weaknesses of a company. The five forces include the threat of new entrants, the bargaining power of buyers, the threat of substitute products or services, the bargaining power of suppliers, and the intensity of competitive rivalry.
Do you feel trapped to outdo competitors? Better strategies can build a stronger defense against com...
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