Porter’s Five Forces Model
Porter’s five forces framework is an instrument for assess the competition intensity of a business. It analyse the five forces the influences the competitiveness of the industry thus the allure based on its profitability (Abraham, 2012). Such forces influence the capacity of the business to meets the needs of its customers and increase profits. The forces include bargaining power of buyers, threats of new entrants, bargaining power of suppliers, and threat of substitutes. A shift from any of the forces usually needs a business unit to re-evaluate the marketplace based on general variation in industry information (Lee, (Ed.). 2013).