Mental mindset paper

Porter’s five forces model seeks to portray how attractive an industry is in relation to the five competitive forces which includes, threat of substitutes, threat of entry, bargaining power of customers, intensity of competitive rivalry and bargaining power of suppliers.

Three steps for using Porter’s Five-Forces Model can reveal whether competition in a given industry is such that the firm can make an acceptable profit or not. They include identifying key elements of each competitive force that impact the firm, evaluating how strong and important each element is for the firm and deciding whether the collective strength of the elements is worth the firm entering or staying out of the industry.

Porter’s five-force model identified five forces which would impact on an organization’s behavior in a competitive market and access the external threats and identifies the opportunities to achieve competitive advantage. The five forces include:

Mindset to me is something that can always be changed depending on your attitude. I do not believe that mindset is something that is fixed, and that you are only as good as your genes allow. I think you can develop new skills or improve any current skills anytime in life as long as you put in the work. In the letter I wrote to a future student I talked about my first real test in college. It was in BIO 105 and I bombed it. When I saw my score the first thing I thought was that I wasn't cut out for college. I was used to not putting much effort in when I was in high school and still doing good. From a little help from my teacher I was able to change my work ethic when it comes to school work. From that point on I've done much better in school

Porter’s model aims to enable managers not only to understand their industry environment but also to shape their firm’s strategy. The five competitive forces are threat of entry, power of suppliers, power of buyers, threat of substitutes, and rivalry among existing competitors. “As a rule of thumb, the stronger the five forces, the lower the industry’s profit potential- making the industry less attractive to competitors. The weaker the five forces, the greater the industry’s profit potential – making the industry more attractive” (Rothaermel, 2013, p. 65). It is recommended that managers position their company in an industry in such a way that relaxes the constraints of strong forces and

Porter’s Five Forces was developed in 1979 by Michael Porter as a framework to assess and evaluate the competitive position of a company in an industry. It is based on the theory that there are five forces which identify the attractiveness and competitive strength of an industry. It is helpful to gain an understanding of a firm’s current positon and the position that the firm may look to capture in the future. Porter’s five forces are also used to

Michael Eugene Porter is an economist, author, advisor and a researcher. He is the creator of Porter Five Forces theory, which is a framework for a business. The model “identifies and analyzes five competitive forces that shape every industry, and helps determine an industry 's weaknesses and strengths” (Investopedia LLC, 2016). The five forces are competitive rivalry, bargaining power of buyers, bargaining power of suppliers, threat of new entry, and threat of substitution. This is a very important theory which a business can strengthen their position.

Today is a new day that has been handed to you for shaping. You have the tools, now get out there and create a masterpiece. ~Steve Maraboli

I was this person. You know, the minute somebody tried to give me constructive criticism, I shut down. I build this wall up and my husband would be the first to tell you. Him and I batted heads for probably majority of our marriage because of this. He is that “teaching leader mode” and it’s my husband.

Michael Porter’s Five Forces Model is a useful tool to aid organizations facing the challenging decision of entering a new industry or industry segment. The Five Forces Model helps determine the relative attractiveness of an industry and

The Porter’s five forces of competition framework were first established in the year 1979 by Michael E Porter with the aim of facilitating the assessment and the evaluation of the strength of competition and state of a business organization. Porter (2008) states that, the five forces determines the intensity of competition and appealing nature of available market. The Porters forces like the SWOT analysis assist a business in identifying its strengths and weaknesses and work on them and also to avoid making any forms of mistakes. The forces enable that same organization to determine what position they lie in and where they want to fall into or move to. The Porter’s five forces of competition framework are; supplier power, buyer power, competitive rivalry, threat of substitution and threat of new entry.

Every day we go through experiences or situations that give us different meanings to our lives. Going through the same routine in every day when all of a sudden, our normal Tuesday there’s more traffic than expected and now you’re late for work. Now we are nervous, scared, and we created a vision telling us to not come this way on a Tuesday, or you’ll be late again. We go through life making mistakes and learn from them to help us in the future. And it’s important to know what mental models are, why they are helpful, and how we form personal examples of mental models.

The analysis of the Porters five forces are very important to business entities. Based on the analysis a business can evaluate their current position and positions that they plan to progress towards as it relates to the industry they are operating in.

Porter Five Forces Model illustrates tools used to effectively analyse businesses within the industry with regards to their profitability strategies in the economy. It is a powerful and useful because it helps you get a thorough understanding of both the strengths and weaknesses of the current competitive position, and the strength of a position you are considering moving into. These tools:

Porter’s five forces analysis is a tool is useful for us to analyse the threat of competition in an industry. Porter believed that the industries were influenced by five forces; competitive rivalry, threat of new entrants, bargaining power of suppliers, bargaining power of buyers, and the threat of substitutes. Analysing these areas can allow you to see attractiveness of the market and find a competitive advantage.