Essays on Michael Porter

Abstract

Entrepreneurship refers to the willingness or the ability of an individual to start and manage a Business Venture. The risks associated with the new Business Venture are taken into account and the individual develops the plan to manage those risks and implement the plans in order to make profit. Such an individual can be referred to as an Entrepreneur. A new business venture depends heavily on innovation, inspiration, motivation and human and non-human resource planning and the risks associated with these factors. An individual faces two options after graduation, whether to start a business venture or join an organization ...

Introduction

The present report comprises of three sections. The first section discusses the recent trends in the business environment, which call for the attention of the Board of Directors as well as the Chief Executive Officer. The next section discusses Porter’s generic strategies including overall cost leadership, product differentiation, and focus strategies and demonstrates the way their implementation will help Partical, Inc. stay ahead of the competition in the global environment. The last section discusses and evaluates both the value chain analysis and Porter’s Five Forces, and indicates how the firms can gain competitive advantage through their effective ...

Businesses are today competing against each other to attain their set goals. These goals can include raising the levels of profit and increasing their market share, which are facilitated by marketing the goods and services being offered. However, small businesses find it hard to establish themselves in the market, especially when there are other well-established competing businesses. Scarlet Hospital appears to be facing the same situation considering that the barrier to market entrance has been removed, which will lead to other established health facilities entering the market and affecting its share. The Scarlet Hospital has dominated the market for ...

Executive Summary 2

Introduction 3

Coca-Cola Vision and Analysis 5 Coca Cola’s Values and Analysis 7 Alignment of Coca Cola’s Mission, Vision, Values, & Goals with Stakeholder’s Interests 8 Recommended Changes 8 Conclusion 9

References 9

Executive Summary The purpose of this report is to discuss a strategic management process via critical analysis and evaluation of the Coca Cola Company’s vision, mission, goals, and objectives of the organization. From a review of each statement, a determination will be made concerning the need for improvement or if the organization is on target and simply needs to make an adjustment relative to the ...

Business

Assignment 1. The Market Assessment.

Introduction

The subject of the current research is the company Express Oil Change & Tire Engineers and its office in Cookeville, TN. This company provides a wide range of the services for the car owners. The most popular service is a 10-minute oil change that also includes some examination of the safety and mechanical conditions of the vehicle (Range of Auto Services Offered). The company has been established in 1979 and throughout 37-years, it has grown into one of the leading automotive service providers. Nowadays, there are more than two thousand of the company’s offices ...

Rio Tinto was a prominent entity with market leadership in global market leadership until 2010. The company had been considered for offering sustainable management practices related to mining for more than two decades. Mr. Sam Walsh, the Executive Director and Chief Executive Director of Rio Tinto Iron Ore Group addressed Australian-Japan Cooperation Committee in 2009 regarding significance of climatic alterations in mining industry. Stating, that there is a need to take serious initiatives to reduce uncertainties and exploit opportunities. Moreover, it is a responsibility of Rio Tinto to offer industrial solutions regarding greenhouse gas emissions and usage of alternative ...

Introduction

Eastman Kodak Corporation is an American multinational public company that engages in production imaging as well as photographic tools and equipment. It is a renowned market leader that provides photographic products as well as services to customers around the globe either for fun purposes or commercial purposes. The company introduces innovative and up-to-date photography products to the market, hence allowing people to take photos, share them while enjoying the beauty of the picture. The company is among the leading in the world in the provision of the associated products and services, and the company’s management is always inclined ...

The main aim of businesses is to accomplish their mission (Ireland 34). The process of moving towards the achievement of its mission requires organisations to apply effective strategies that facilitate an effective response to the range of factors that may affect such objectives. Unforeseen factors may cause devastating impacts on the wellbeing of an organisation. In this case, therefore, utilising appropriate strategies to deal effectively with the plausible future events is necessary. Planned opportunism is the systematic process that assists in the recognition of the impending changes and assuring the opportunities that such changes may provide, thus supporting the ...

The choosing of the most effective planning model is an important factor influencing the results of particular project. Some of the planning models are commonly used and prove to provide the highest level of accuracy. These models are Michael Porter's five forces, Adrian Slywotzky's value migration, W. Chan Kim and Renee Mauborgne's blue ocean strategy. Nevertheless all these models still have specific pros and con that are analyzed in this paper in order to propose the most efficient planning model.

Michael Porter's Five Forces

The premise and main advantages Analysis of the five forces is commonly applied method of studying the market probabilities ...

With more than 500 stores in at least 37 states and eight countries, Costco has continued to dominate the retail industry in America. Northouse (2015) noted that Costco’s competitive advantage in US retail industry can be explained by three key performance determinants in the flexible leadership theory: efficiency, adaptation, as well as human capital. In light of the company’s success in the retail industry, this paper provides a discussion on three key determinants in the flexible leadership theory and give an explanation of how the company can offer higher compensation to its workforce and still show success ...

Executive Summary

This is an inclusive marketing plan with a primary objective to raise awareness and raise funds and thereby helping OXFAM achieve its core objectives in the market. OXFAM is an organization that works in different countries to eradicate poverty and various social injustices. The market name is OXFAM organization which is based in the United States of America. The target group for this organization is the Middle East where the team tends to raise primarily awareness and raise funds. The organization is a non-governmental organization that primarily aims at improving the living standards of the less fortunate in the ...

Study

CONTENTS

Introduction 3

Question 1 – Market Structure Definitions 4 Question 2 – Unique Resources of Quasar Computers 5 Question 3 – Oligopoly and Competition 6 Question 4 –Porter’s Generic competitive strategies for different types of the market 6 Question 5 – Porter Five Forces Ranking and Attractiveness of Perfect Competition for Computer Industry 8 Conclusion 9

References 10

Introduction Throughout the history of the humankind, different markets have been tested by the economies (Frank, 2008). Despite the fact that advantages of ones and deficiencies of others types of market have been respectively eulogized or vigorously criticized by the different scholars, the practice ultimately revealed that ...

Business

IKEA’s Value Chain Analysis The revolutionary idea of studying the value chain embedded in an entity was postulated by Michael Porter as part of which he tried to depict how the entity accumulates customer value along with the chain of activities that it performs. Stated otherwise, the value-chain analysis is an analytical framework that identifies business activities or process inputs that eventually create value for the customers of the company or/and provides competitive advantage to the entity. Owned by Stichting INGKA Foundation, IKEA is the world’s largest furniture retailer with the presence in more than 40 countries ...

Introduction

This article is about the Blue Ocean Strategy, a book that was written by two professors from the international graduate school of INSEAD, W. Chan Kim and Renee Marbourgne. This school and research facility is located in France and has satellite offices in Singapore. The idea behind the Blue Ocean Strategy which was created after a thorough 120-year data analysis of 150 strategies moves in 30 industries is that firms create value through the alignment of value propositions and product values. These strategic moves that create value for the firm is coined the Blue Ocean Strategy wherein growth and profitability are ...

Introduction

The modern world of business is today becoming more tough and competitive as different companies strive to gain a competitive edge over others. In order for a company to become successful and stay successful in a competitive world, it is important for management to take a strategic risk. Following the traditional ways of business and staying safe all the time may cost the company its success since the company may be overcome by other businesses. One of the ways that management can ensure the company becomes and remains successful is through strategic management. Strategic management involves a collection of managerial actions and decisions that ...

Introduction

McDonald’s is one of the influential fast-food chains having the worldwide functions. McDonald’s is selected in order to assess its strategy in action. McDonald’s originated in the United States in the year 1940 and improved its functions which resulted in more than twenty-three thousand eating places which have a span of more than one-hundred and seventeen economies and the company’s recruitment is around four-hundred thousand individuals across the globe. McDonald’s remarkable development may be subject to numerous variables, excluding from its franchise model of expansion, which gained extensive appeal globally, an expansion model was significantly acknowledged ...

Simon Sinek developed the Golden Circle Model after researching the activities and philosophies of some of the most successful companies and influential leaders. Sinek discovered a common thread in the way these companies conceptualized, acted and communicated their ideals and products. He realized that there was a stark difference between influential companies and the not-so-successful ones. According to Sinek, most companies believe that clients buy products and service only because of superior quality, fair prices and exquisite designs. This is erroneous thinking, according to Sinek, because influential companies are driven by a different philosophy – the ‘why’ question. The ‘why’ concept is ...

Singapore Airlines

Singapore Airlines was founded as a state owned airline in the year 1972. Gradually the company has expanded with the strategy of focusing on unique customer needs and providing excellent in-flight services. With time, SIA has come highly competitive in the market. The company has achieved sustainable competitive advantage and classy elegance by investing much in personnel skills and different other sources (Binggeli & Pompeo, 2002, pp.70). The company has a wide range of services including operations of airline, engineering services and airport terminal services. Singapore Airlines has also made an entrance into the industry with operations as aircraft leasing, ground handling, ...

Business plan

Part 1: Business idea My business idea is a starting barbershop. The name of this barbershop will be JD Barbershop. It will be serving males across all ages. It will be open from 1000hrs to 2100hrs on weekdays and 0800hrs to 2000hrs on weekends.

Essay layout

The layout of this essay will be characterized by several sections based on each question. For question one, the first section will concentrate on the business idea. The other section will have details on Michael Porter’s Competitive Forces. For question two, the first part will be based on the type of the business model ...

Adam, S., Mulye, R., Deans, K. R., & Palihawadana, D. (2002). E-marketing in perspective: a three country comparison of business use of the Internet. Marketing Intelligence & Planning, 20(2), 243-251 A massive revolution of the worldwide web has been witnessed in the last few decades. The internet is no longer a luxurious item accessible to a reserve few, but is now something that a huge chunk of all members of the human race has access to. Currently, about 2 billion people in the world currently use the internet. This is indeed a huge improvement given that, in the 1990’s, only a few million people ...

Business Report on Amazon

Introduction Amazon is one of the most renowned and distinguished online retailer. It is an American run e-commerce firm. They have their headquarter in Seattle, Washington. It is known as the leading company which is operating electronically through the internet. Since more than ten years, they have managed to sustain their position. They have been comparatively unaffected by the changes in the external environment. Initially Amazon was an online website which was involved in selling books online. Later, when they started being successful, they diversified their operations to sell videos, mp3 songs, video games, apparel, jewelry, packaged ...

Porter’s Five Forces Model

Michael Porter’s Five Forces model gives a strategic insight to the firm. It considers the five forces necessary to create a competitive advantage. This model helps the strategic manager to understand where power lies, and helps in creating sustainable competitive advantage. The analysis of foot wear industry according to the Porter’s model is given below:

Threat of New Entrants

The threat of new entrants in the footwear industry is high. There are a few entry barriers. The government regulations are few. Moreover, the inputs are easily accessible. It is not tough to arrange workforce, technology, raw material and expertise. However, advanced technology can lead ...

Definition

Competitive advantage refers to a situation where one organization in the industry develops or acquires combined attributes which allow it to be in a better position than its competitors in terms of performance and suitability. Some of these attributes that can boost a company to have a competitive advantage may include natural resources, skilled personnel, new and better technologies, inexpensive power, political support among many more others. When a company has this advantage, it becomes difficult for other companies to rival and compete with it. As such, it gets a chance to expand its operations in the industry.

History of the term

The concept of competitive advantage was first ...

Management

Module 1 – SLP Mission and Vision statements defines an organization’s core values and are often used as the guiding principles in establishing organizational objectives. However, more and more companies have a discombobulated notion about the role of the mission and vision statement resulting to a creation of a rather more confusing jargon. What constitutes a good mission and vision statement according to Welch and Welch (2008) should convey a clear definition of realistic and more achievable expectations. Mission and Vision statements should possess specific elements that define the universal values of an organization.

The key elements that an explicitly constructed mission statement that demonstrates definition of an organization’s priorities are:

- Specific aim - Organizations often fall victim into ...

Affiliated Institution:

1.Introduction The strategic management of an organization is often responsible for its success. This research will focus on Starbucks Company in an attempt to understand how strategic management is key for the success of an organization. To achieve this aim the report will incorporate appropriate models and concepts to analyse Starbucks Company. The first step will be to provide the company’s background, Starbuck’s competitive advantage, as well as models like Porter’s five forces, SWOT Analysis, Porter’s generic strategies and the PESTEL analysis. Finally, the report will offer recommendations that will greatly assist Starbucks to ...

Porter’s Five Forces Model

Five forces model is a framework provided by Michael Porter to understand the business scenario critically. It is used by the business houses to analyse the external environment. It helps to estimate the current competitive position of a firm and gives the idea of the position where the firm wants to move to (Kotler and Keller, 2006). The model provides five competitive forces that shapes the industry environment. Following are the five forces of Porter’s competitive forces: - Supplier Power: this means how powerful the suppliers are to cause an increase in the price of the product. This is ...

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Introduction Porter's Five Forces Analysis (born Porter five forces analysis) is a technique for analyzing industries and the development of business strategy, developed by Michael Porter of the Harvard Business School in 1979.

Porter's Five Forces Analysis include:

- threat of substitute products analysis - threat of new entrants analysis - market power of suppliers analysis - market power of consumers analysis - level of competition analysis

Industrial Analysis

If we rank of the world's oil and gas companies on production characteristics, the top five will take Exxon Mobil Cogr. (USA), Shell (Netherlands), ...

Analysis of the value chain management of Toyota

Introduction: In this era of globalization and cut throat business environment the organizations need to develop themselves consistently in order to not only sustain their business but also grow in view of the competition and the choice of next best alternatives available to the consumer all over the world. Toyota as an organization is a prime example of constantly innovating and changing to maintain its position as a market leader by having a sustained production stream of quality automobiles and thus the success is well documented and the reputation that Toyota has earned in quality, reduction in costs and quality ...

Michael Porter is a management researcher who helps organizations to succeed in their dealings. Porter argues that a firm gains competitive advantage by concentrating on cost leadership or differentiation of products. According to the researcher, these strategies help firms to expand their market share, and this leads to high volumes of sales and profits. Organizations interested in succeeding should expand and control their sources of competitive advantage (Gilchrist, Mooers, Skrubbeltrang, & Vachon, 2012). Wal-Mart, a store that sells a diversified line of products gains its competitive advantage by charging low prices for all goods besides differentiating stores and services. Wal-Mart gains competitive advantage ...

INTRODUCTION

Rio Tinto is a combination of predecessor companies formed by investors in 1873 and 1905. Due to such an extensive knowledge and experience in the mining industry, the organization is regarded as one of the finest and leading global mining and metal company. Being a global mining and metal company, the organization focuses highly on the exploration and processing of Earth’s finest mineral resources with an aim to maximize the shareholder’s value. In order to do so, the organization has the right people for the job and resources to provide the world with minerals and metals. Some of the ...

The aviation industry has assumed a competitive character premised on the modern managerial concepts, scientific applications and increased globalization. The nature of competition has compelled airlines in the industries to position themselves strategically, employing models that enhance their competitive abilities. It is the contention of this paper that Porter’s generic competitive advantage strategy can be applied in relation to the development of a brand image that would position the company ahead in the competitive airline industry. This paper shall discuss how the competitive strategy can be employed in line with the concept of branding and the associated benefits that would ...

Porter`s Five Competitive Forces

Michael Porter in 1979 laid out the five competitive forces model that was intended to apply in shaping business strategies. According to Porter the five forces proposed were microeconomic in nature and not macroeconomic. In addition, three of the forces were internal in nature and two were external. In a sense, a business firm could control the internal forces and only cushion itself against the effect of the external forces. The paper briefly discusses the five competitive forces.

Threat of entrants (new competitors)

Ordinarily, a business would want the status quo retained at all costs. An additional entrant means more competition as the entrant often comes loaded ...

Michael Porter tries to explain the real business meaning of the term strategy in his article. He explains several things known to many to be connected with the success and failure of businesses. The article majorly concentrates on the distinguishing factors between operational effectiveness and managerial strategic acting and thinking. With these two aspects, he shows what strategy means. Strategy is the creation of exclusive and valued position, involving a diverse set of activities, which means if there existed only a single ideal position, strategy would be nonexistent. According to Porter (1996, p. 61), operational effectiveness should not be considered a ...

Abstract

This paper aims at discussing and evaluating the strategic management of Four Seasons Hotel and Resort’s current situation and future position and development. This research report identifies the sources of competitive advantage for Four Seasons and strategic challenges faced by the company on its expansion plans. The paper adopts some management models to help better understand the current situation. PESTLID and Porter’s five forces help to understand the current challenges facing the company from the perspective of the hospitality industry.

Introduction

As the world’s leading operator of luxury hotels and resorts, the goal of Four Seasons is ...

Analysis of the environment

Johnson and Johnson currently operate over 250 subsidiary companies in 57 countries. It is the world’s largest healthcare company comprising of three segments: pharmaceuticals, medical devices and diagnostics and consumer products.

There are two sets of forces that Johnson and Johnson’s faces in its current environment: competitive and contextual environments.

The competitive environment can be analyzed using Michael Porter’s five forces model while the contextual environment can be analyzed using PEST (Political, Economic, Social and Technological).

Contextual Environment- PEST analysis

Political environment- Dynamic policies and political regimes: The political scene on the local, regional and national front affects the operations ...

Strategic management

Michael Porter model is still a theory considered a force to reckon with when it comes to strategic management. Simply referred to as Porter’s five forces the model is based upon industrial organization (I/O) and Michael was able to show that five forces that basically determine a firm profitability (Porter, 1980). He mainly explores environment that a company can operate and have competitive edge. It is pertinent to note at this level that a business success depends on environment and environment in this context may be external or internal (Chak, 2003). These five forces are entry threat, buyer’s power, supplier’s power, ...