W3: Using the Five Forces Model of Competition
Do some research and find an analytical tool that aids in understanding the various competitive forces that affect strategic planning. Although all organizational sectors potentially face similar kinds of competitive forces, each sector and/or organization may face unique factors that affect competitive pressure at any given time, depending on varying circumstances.
For instance, you may investigate “supplier bargaining power from foreign markets” or “dealing with emerging companies in the cell phone (or tech) industry.”[Suggestion: You may want to know more about the developer of the Five Forces Model—Michael Porter, who is a premier strategy professor at Harvard. Check him out on YouTube.]
Lee, C., Tseng, C., & Chu, K. (2016). Exploring strategy fit of competition on foreign enterprise and brand strategy. International Journal of Organizational Innovation (Online),8(3), 99.
Hopkins, W. E., Mallette, P., & Hopkins, S. A. (2013). Proposed factors influencing strategic inertia/strategic renewal in organizations. Academy of Strategic Management Journal, 12(2), 77-94.
Hoyes, M. (2014). Strategic thinking: Lessons from Dr. King’s “I have a dream” speech Leadership Advance Online, 26, 1-7.
Hyväri, I. (2014). Project portfolio management in a company strategy implementation, a case study. Procedia – Social and Behavioral Sciences, 119, 229-236. doi:10.1016/j.sbspro.2014.03.027
Laseter, T., & Sarasvathy, S. (2012). Three games of strategic thinking. Strategy + Business, 67, 1- 6.
Okantey, P. C. (2012). Leading change: When everything else is falling apart. Strategic Leadership Review, 2(3), 42-46. Discussion Forum
Velez-Castrillon, S. (2012). The strategic fit between the board of director’s characteristics and the external environment, and its effect on firm reputation (Doctoral dissertation, University of Houston). Available from ProQuest Dissertations and Theses database. (UMI No. 3506846)