Question
Topic 1
Choose an industry in which you would like to compete globally. Use the Five-Force method of analysis to explain why you find that industry attractive for business.
Sample paper
Five-Force method of analysis of food industry
Topic 1
The essay analyzes the food industry. It is attractive due to the growing population of people who need to consume food. The essay analyzes the industry by the help of the five-force method of analysis developed by Michael E. Porter (Jones, T. M. et al. 2013). It analyzes the competitive forces that shape industries by assisting them to determine the strength and weaknesses. They include competition, potential of new entrants, power of suppliers, power of customers, and threat of substitute products.
Competition in the industry is low as the demand is higher than the supply. There is potential for new markets as there are no strict entry requirements. The suppliers of certain goods are many while goods such as pork meat are scarce. The higher the options of the business person in terms of supply, the less the power of suppliers. Power of customers is high as the clients can choose where to consume food or beverages. The threats of substitute products are great as the customers can decide to take a soda or milk.
Related: End of Life Case Study
