Making Business Decisions I
Michael Porterís Five Forces Model is a useful tool to aid organizations facing the challenging decision of entering a new industry or industry segment. The Five Forces Model helps determine the relative attractiveness of an industry and includes:
- Buyer Power
- Supplier power
- Threat of substitute products or services
- Threat of new entrants
- Rivalry among existing competitors
- Perform a detailed Porter's Five Forces analysis for The Broadway Cafe.†
- Be sure to highlight entry barriers, switching costs, and substitute products.
- Determine which of Porter's Three Generic strategies you will use as you rebuild The Broadway Cafe for the 21st century.