Two quick questions relating to Information System Management ClassTotal answers about 400wordsDo Not Use CitationsPlease write answers in your own wordsNo quotes Question 1General Discussion questio
Two quick questions relating to Information System Management Class
Total answers about 400words
Do Not Use Citations
Please write answers in your own words
General Discussion question
Please discuss these questions in a well written paragraph (200words)
What is the purpose of Porter’s five forces model? Support your argument with an example of a strong force and an example of a weak force. Be sure to support your example by explaining why it was a strong force or a weak force using Porter’s five forces model as a guide. If you have personal experience related to Porter’s five forces model, please include that in your discussion as well.
In 200 words
Discuss the concepts of value, margin, and value chain as defined by Porter.
Must not be plagiarized
Must be an original response
Answer must be in proper English language
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Porter’s Five Forces Model of Industry Structure
According to this model, five competitive forces determine industry profitability: bargaining power of customers, threat of substitutions, bargaining power of suppliers, threat of new entrants, and rivalry among existing firms. The intensity of each of the five forces determines the characteristics of the industry, how profitable it is, and how sustainable that profitability will be.
Information from text book, cannot quote in answer
Porter defined value as the amount of money that a customer is willing to pay for a resource, product, or service. The difference between the value that an activity generates and the cost of the activity is called the margin. A business with a differentiation strategy will add cost to an activity only as long as the activity has a positive margin.
A value chain is a network of value-creating activities. That generic chain consists of five primary activities and four support activities.