波特五力模型是迈克尔·波特(MichaelPorter)于20世纪80年代初提出,它认为行业中存在着决定竞争规模和程度的五种力量,这五种力量综合起来影响着产业的吸引力以及现有企业的竞争战略决策。五种力量分别为同行业内现有竞争者的竞争能力、潜在竞争者进入的能力、替代品的替代能力、供应商的讨价还价能力、购买者的讨价还价能力。
Themodelhassimilaritieswithothertoolsforenvironmentalaudit,suchaspolitical,economic,social,andtechnological(PEST)analysis,butshouldbeusedatthelevelofthestrategicbusinessunit,ratherthantheorganisationasawhole.Astrategicbusinessunit(SBU)isapartofanorganisationforwhichthereisadistinctexternalmarketforgoodsorservices.SBUsarediverseintheiroperationsandmarketssotheimpactofcompetitiveforcesmaybedifferentforeachone.
Fiveforcesanalysisfocusesonfivekeyareas:thethreatofentry,thepowerofbuyers,thepowerofsuppliers,thethreatofsubstitutes,andcompetitiverivalry.
THETHREATOFENTRY
Thisdependsontheextenttowhichtherearebarrierstoentry.Thesebarriersmustbeovercomebynewentrantsiftheyaretocompetesuccessfully.Johnsonetal(2005),suggestthattheexistenceofsuchbarriersshouldbeviewedasdelayingentryandnotpermanentlystoppingpotentialentrants.Typicalbarriersaredetailedbelow.
Economiesofscale
Forexample,thebenefitsassociatedwithvolumemanufacturingbyorganisationsoperatingintheautomobileandchemicalindustries.Lowerunitcostsresultfromincreasedoutput,therebyplacingpotentialentrantsataconsiderablecostdisadvantageunlesstheycanimmediatelyestablishoperationsonascalethatwillenablethemtoderivesimilareconomies.
Thecapitalrequirementofentry
Thesevaryaccordingtotechnologyandscale.Certainindustries,especiallythosewhicharecapitalintensiveand/orrequireverylargeamountsofresearchanddevelopmentexpenditure,willdeterallbutthelargestofnewcompaniesfromenteringthemarket.
Accesstosupplyordistributionchannels
Inmanyindustries,manufacturersenjoycontroloversupplyand/ordistributionchannelsviadirectownership(verticalintegration)or,quitesimply,supplierorcustomerloyalty.Potentialmarketentrantsmaybefrustratedbynotbeingabletogettheirproductsacceptedbythoseindividualswhodecidewhichproductsgainshelforfloorspaceinretailingoutlets.Retailspaceisalwaysatapremiumanduntriedproductsfromanewsupplierconstituteanadditionalriskfortheretailer.
Supplierandcustomerloyalty
Apotentialentrantwillfinditdifficulttogainentrytoanindustrywherethereareoneormoreestablishedoperatorswithacomprehensiveknowledgeoftheindustry,andwithcloselinkswithkeysuppliersandcustomers.
Costdisadvantagesindependentofscale
Well-establishedcompaniesmaypossesscostadvantageswhicharenotavailabletopotentialentrantsirrespectiveoftheirsizeandcoststructure.Criticalfactorsincludeproprietaryproducttechnology,personalcontacts,favourablebusinesslocations,learningcurveeffects,favourableaccesstosourcesofrawmaterials,andgovernmentsubsidies.
Expectedretaliation
Insomecircumstances,apotentialentrantmayexpectahighlevelofretaliationfromanexistingfirm,designedtoprevententry–ormakethecostsofentryprohibitive.
Governmentregulation
Thismaypreventcompaniesfromenteringintodirectcompetitionwithnationalisedindustries.Inotherscenarios,theexistenceofpatentsandcopyrightsaffordsomedegreeofprotectionagainstnewentrants.
Differentiation
Differentiatedproductsandserviceshaveahigherperceivedvaluethanthoseofferedbycompetitors.Productsmaybedifferentiatedintermsofprice,quality,brandimage,functionality,exclusivity,andsoon.However,differentiationmaybeerodedifcompetitorscanimitatetheproductorservicebeingofferedand/orreducecustomerloyalty.