Porter's Five Forces Model Of Comparative Analysis In Rwanna

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The Rwandan women entrepreneurs therefore, should perform a comparative Analysis, as part of an external inspection to identify rival firms and determine their strengths, weaknesses, capabilities, opportunities, threats, objectives, and strategies. Porter’s Five-Forces Model of competitive analysis is a widely used approach for developing strategies in many industries. According to Porter, the nature of competitiveness in a given industry can be viewed as a combination of five forces: Rivalry among competing firms, potential entry of new competitors, and potential development of substitute products, bargaining power of suppliers and bargaining power of consumers. (https://www.google.co.in/#q=michael+porter+5+forces+model) Three steps for using Porter’s Five-Forces Model can reveal whether competition in a given industry is such that the firm can make an acceptable profit or not. They include identifying key elements of each competitive force that impact the firm, evaluating how strong and important each element is for the firm and deciding whether the collective strength of the elements is worth the firm entering or staying out of the industry.…show more content…
Women entrepreneurs should study rivalry among competing firms, potential entry of new competitors, possible development of substitute products, bargaining power of suppliers and negotiation power of consumers The following three steps for using Porter’s Five-Forces Model can reveal whether competition in a given industry is such that the firm can make an acceptable profit by identifying key aspects or elements of each competitive force that impact the firm, evaluating how strong and important each element is for the firm helps in deciding whether the collective strength of the elements is worth the firm entering or staying out of the

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