USING THE FIVE FORCES MODEL OF COMPETITION
Do some research and find an analytical tool that aids in understanding the various competitive forces that affect strategic planning. Although all organizational sectors potentially face similar kinds of competitive forces, each sector and/or organization may face unique factors that affect competitive pressure at any given time, depending on varying circumstances.
For instance, you may investigate “supplier bargaining power from foreign markets” or “dealing with emerging companies in the cell phone (or tech) industry.”
[Suggestion: You may want to know more about the developer of the Five Forces Model—Michael Porter, who is a premier strategy professor at Harvard. Check him out on YouTube.]
