Blog entry by Olabisi Ometoruwa-Miyebi
Anyone in the world
Its funny that i just started hearing of this some days back.. Michael Porter brought about the 5 forces of competitive strategy that show how to analyse a company's competitive environment.
The Potter Five Forces model identified five main sources of competition, namely:
- Bargaining power of suppliers
- Bargaining power of Buyers
- Threats of New Entrants
- Threats of Substitutes
- Competition of existing competitors in the industry
I remain your humble expert, no semi expert ❤️❤️❤️I