I actually want to start off by saying thank you to the Pingback’s from my last entry to the following: Pingback: Daily Leadership Thought #163 – Time Management Is Not Optional « Ed Robinson's Blog Pingback: Slovak Technical Services | Reminder Manager | Extended Reminders | Blogs | SoftOasis Pingback: Be Master of your Time | fuzzbytes Pingback: Managing … Continue reading “Thank You”
A good refresh on this model!
It was 1979 when a Harvard Business School’s professor Michael E. Porter developed Porter’s five forces analysis framework for industry analysis and business strategy development.
It may seem a little complex to many people, but we will try to understand it from a very different perspective, from a lay-man’s perspective 🙂
What are Porter’s 5 Forces?
To put it in the simple way Uncle Porter says that if you want to start a new business or analyze an existing one you must consider following 5 forces/factors in doing so:
- Threat of New Competition
- Threat of Substitute Product or Service
- Bargaining Power of Customers
- Bargaining Power of Suppliers
- Competitive Rivalry
A Lay-man’s Perspective – Example:
Okay enough business vocabulary; let’s understand the concept with an easy example. Assume that we want to start a business, say selling ice-cream on a cart (Thaelay wala). So what are the factors we…
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Time Management A common complaint, “not enough time in the day.” Here’s the trick, you control time, because when you let it control you, is when you feel there is not enough of it. This is important both in your life and in your job. My tips for time management: 1) Recognize the difference between controllable … Continue reading Time Management: My Tips