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Porter's five forces analysis

This process involves analyzing the business industry and the feasibility of new businesses using Porter's Five Forces Analysis.

Workflow template includes the following steps

Step 1 — Identify the industry

Identify the industry that the business is in or wants to enter.

Due Date

Output Field Conditions

Step 2 — Analyze potential entrants

Analyze the potential of new entrants into the industry.

Output Field

Step 3 — Evaluate power of suppliers

Evaluate the bargaining power of suppliers in the industry.

Due Date

Output Field Conditions

Step 4 — Assess power of customers

Assess the bargaining power of customers in the industry.



Step 5 — Determine threat of substitute products

Determine the threat of substitute products in the industry.

Output Field

This workflow template can be used as is or edited, added to and expanded upon. You can delete steps you don’t need or add steps specific to the operations of your company.

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and then customizing it to best meet your needs

The Purpose of Porter’s five forces analysis

The Porter’s Five Forces Analysis is a vital business process that allows organizations to scrutinize their industry and the viability of new business ventures. The process gets its name from its creator, Michael E. Porter, a professor at the Harvard Business School. Porter’s Five Forces include competition in the industry, potential of new entrants into the industry, power of suppliers, power of customers, and the threat of substitute products.

The process provides a comprehensive understanding of the structural underpinnings and complexity of an industry. It is a strategic tool that is used to avoid a competitive disadvantage and to align the company strategy with its environment. It also helps to identify the strengths and weaknesses of a company in relation to the competitive forces that exist in the industry.

By understanding these forces, a company is able to develop effective strategies to influence them in a way that improves the company’s profitability. Furthermore, the process also helps in identifying the profitability potential of different industries and thus aids in strategic decision-making. The Porter’s Five Forces Analysis process is therefore crucial for any company that seeks to maintain a competitive edge in its industry.

Streamline your business process by deploying our library workflow template
and then customizing it to best meet your needs

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