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Guidelines for applying Porter's five forces framework: a set of industry analysis templates

Guidelines for applying Porter's five forces framework: a set of industry analysis templates Purpose – The purpose of this paper is to provide practitioners and students a practical yet comprehensive set of templates for applying Michael Porter's five forces framework for industry analysis. Design/methodology/approach – Based on experiences with practicing managers, small business owners, industry analysts, academics, and students, a set of industry analysis templates that systematically guides an analyst through a comprehensive assessment of the five forces is presented with the following: copies of the templates themselves, descriptions of their structure and use, an example of a completed template (spectator sports industry), and a discussion of possible modifications and extensions. Findings – The industry analysis templates described in this paper retain the comprehensiveness of Porter's framework but in a format much more student/manager‐oriented using graphics, visual cues, a uniform structure, and straightforward descriptions of concepts. Template users show evidence of deeper strategic insights and have a sophisticated tool for future analysis. Practical implications – Managers, analysts, students, and others wanting robust industry analysis are provided with a comprehensive, structured, and practical set of templates to use in assessing an industry using the five forces framework. Originality/value – Leading strategic management texts and other sources provide no comprehensive, systematic, and robust format for conducting a five forces analysis of an industry. The set of industry analysis templates described in this paper provides a visually compelling, user‐friendly format that can assist those analyzing industries gain important strategic insights not only into industry drivers, but also important competitive advantages for individual firms. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Competitiveness Review: An International Business Journal incorporating Journal of Global Competitiveness Emerald Publishing

Guidelines for applying Porter's five forces framework: a set of industry analysis templates

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Publisher
Emerald Publishing
Copyright
Copyright © 2014 Emerald Group Publishing Limited. All rights reserved.
ISSN
1059-5422
DOI
10.1108/CR-06-2013-0059
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to provide practitioners and students a practical yet comprehensive set of templates for applying Michael Porter's five forces framework for industry analysis. Design/methodology/approach – Based on experiences with practicing managers, small business owners, industry analysts, academics, and students, a set of industry analysis templates that systematically guides an analyst through a comprehensive assessment of the five forces is presented with the following: copies of the templates themselves, descriptions of their structure and use, an example of a completed template (spectator sports industry), and a discussion of possible modifications and extensions. Findings – The industry analysis templates described in this paper retain the comprehensiveness of Porter's framework but in a format much more student/manager‐oriented using graphics, visual cues, a uniform structure, and straightforward descriptions of concepts. Template users show evidence of deeper strategic insights and have a sophisticated tool for future analysis. Practical implications – Managers, analysts, students, and others wanting robust industry analysis are provided with a comprehensive, structured, and practical set of templates to use in assessing an industry using the five forces framework. Originality/value – Leading strategic management texts and other sources provide no comprehensive, systematic, and robust format for conducting a five forces analysis of an industry. The set of industry analysis templates described in this paper provides a visually compelling, user‐friendly format that can assist those analyzing industries gain important strategic insights not only into industry drivers, but also important competitive advantages for individual firms.

Journal

Competitiveness Review: An International Business Journal incorporating Journal of Global CompetitivenessEmerald Publishing

Published: Jan 14, 2014

Keywords: Strategic management; Industry analysis; Five forces framework; Sport industry analysis; Teaching tools; Templates

References

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