Porter's Five Forces framework is a method of analysis applied to the competition of a business. It is used to examine the forces of competition that might be asserted on a specific business and helps determine to what degree a business might be profitable. Read, watch, and listen below for more information.
Porter's Five Forces include:
1. Competition in the industry
2. Potential of new entrants into the industry
3. Power of suppliers
4. Power of customers
5. Threat of substitute products
Mind Tools Content Team. Porter’s Five Forces [Online image]. Mind Tools. https://www.mindtools.com/pages/article/newTMC_08.htm