Porter's competitive forces framework
7 important questions on Porter's competitive forces framework
List examples of the 5 forces of Porter's competitive forces framework applicable to the management consultancy industry.
- New entrants: start-ups & diversifying firms from other industries;
- Buyers: companies and non-profit organisations;
- Substitutes: client DIY, internal management consultancy;
- Suppliers: individuals, suppliers of knowledge and equipment (universities);
- Competitors: firms and solo-practitioners.
What is the biggest threat from young startups?
There are 10 determinants of threat of new entrants, list the 10
- Economies of scale;
- Proprietary product differences;
- Brand identity;
- Switching costs;
- Capital requirements;
- Access to buyers;
- Proprietary learning curve & low-cost design;
- Access to necessary inputs;
- Government policy;
- Expected retaliation.
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What are the 7 listed determinants for buyer power?
- Buyer concentration relative to firm concentration;
- Buyer volume;
- Buyer information;
- Buyer switching costs relative to firm switching costs;
- Ability to integrate backwards;
- Substitute products;
- Pull through.
What are the 9 determinants of supplier power for management consultancy?
- Differentiation of inputs;
- Supplier switching costs relative to firm switching costs;
- Presence of substitute products;
- Supplier concentration relative to firm concentration;
- Importance of volume to supplier;
- Switching costs;
- Cost relative to total purchases;
- Impact of inputs on cost or differentiation;
- Threat of forward integration.
What are the 3 determinants of substitution threats? Rivalry threats?
- Relative price performance of substitutes;
- Switching costs;
- Buyer propensity to substitute.
What are the 11 rivalry determinants?
- Corporate stakes;
- Ratio of fixed costs to value added;
- Intermittent overcapacity;
- Product differences;
- Brand identity;
- Switching costs;
- Informational complexity;
- Diversity of competitors;
- Concentration and balance;
- Exit barriers;
- Industry growth.
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