In this video, I am going to share with you one of the most important strategy tool, which currently use in every aspect of business environment. This tool was created by a professor from Havard Business School, Micheal Porter. The aim of this strategic tool is to analyse the attractiveness of the industry and competition landscape in order to find a right strategy to improve the profitability and increase the competitive advantage for the firm.
The five forces will be explained in detail in order to give you a clear picture on how this strategic tool, Porter’s fives forces model acts as a complement to help creation the right strategy for the business increasing competitive advantage and turn to profit mode.
The five element of Porter’s five forces are:
1. Competitive Rivalry.
2. Buyer Power.
3. Supplier Power.
4. Threat of New Entrant.
5. Threat of Substitution Product.
In this talk today, We explore each aspect of five forces by using one of the newly established automotive firm based in VietNam, called ” VinFast”. This will give you a clear picture and easy to understand the concept as We are going to use “VinFast” to analyse the industry attractiveness and its competitive capability as well as other related factors that may impact on the firm profitability and long term operation.
Notes: The threats of substitution of products are also added to the electric vehicle currently available in the market Such as ” Tesla” is also consideration as a high level of threat to ” Vinfast” operation.
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