波特五力模型-Porter.ppt

Porters Five Forces Industry Analysis.Industry analysisThe profitability of any industry depends upon five environmental factorsThe five forcesThe threat of entryThe threat of substitutionThe power of the buyersThe power of the suppliersCompetitive rivalry within the industry.PortersFiveForcesofCompetitionFrameworkSUPPLIERSPOTENTIALENTRANTSSUBSTITUTESBUYERSINDUSTRYCOMPETITORSRivalryamongexistingfirmsBargainingpowerofsuppliersBargainingpowerofbuyersThreatofnewentrantsThreatofsubstitutes.The threat of entryThreat that new entrants will start up,increase capacity and competition and erode profitsDepends on the size of the entry barriersEg scale economies,patents.The threat of substitutionThreat other industries will take business away:eg aluminium industry faces threat from glass,plastics,steelThese substitute products place a cap upon industry prices above which buyers will desert.Power of buyersPower of industrys buyers to secure discounts or negotiate added value to productsDepends on buyer concentration,information,switching costsEg fragmented horticulture industry faces concentrated,expert buyers with low switching costs.Power of suppliersAbility of suppliers to dictate the terms and conditions of supplySupply concentration and differentiation is keyEg operating system component of PCEg the transmission system in bicycles.Competitive RivalryThe degree of competition within the industry for market shareEspecially the degree of price competitionSome industries are very price competitiveEg airlinesOthers are non price competitive and highly differentiated in productsEg pharmaceuticals.THREATOFENTRYCapitalrequirementsEconomiesofscaleAbsolutecostadvantageProductdifferentiationAccesstodistributionchannelsLegal/regulatorybarriersRetaliationSUBSTITUTECOMPETITIONBuyerspropensitytosubstituteRelativeprices&performanceofsubstitutesBUYERPOWERBuyerspricesensitivityRelativebargainingpowerINDUSTRYRIVALRYConcentrationDiversityofcompetitorsProductdifferentiationExcesscapacity&exitbarriersCostconditionsSUPPLIERPOWERBuyerspricesensitivityRelativebargainingpowerTheStructuralDeterminantsofCompetition.Examples of industry analysisAirlinesPharmaceuticalsProfessional footballRoad Recovery Services.AirlinesThe threat of entryVery high becauseDeregulatedLow start up costsModest economies of scaleThe threat of substitutionHigh in some short haul routeslower in long haulThe power of the buyersConsiderable Little customer loyalty despite air milesEasy to switch between carriers.AirlinesPower of the suppliersConsiderableAircraft manufacturers large and very differentiated,high switching costsUnionised staffCapacity shortages in many airportsCompetitive RivalryIntense price competitionVery high fixed operational costs and low variable costs encourages discounting to maximise utilisation.Airlines:conclusionAll five forces are operating to the industrys disadvantageWould expect the industry to experience poor profit performance.PharmaceuticalsThe threat of entryVery lowProducts protected by patents and copyrightFormidable research,development and approval costs of new drugsVery large medical sales force requiredThe threat of substitutionVery lowOften no alternative to a drug in dealing with an illness.PharmaceuticalsPower of buyersLimitedPurchase decisions made by powerful medical profession able to influence what the state or insurance co.must pay forPower of suppliersNegligibleDrug ingredients are largely commodities,widely availableCompetitive rivalryLimitedLittle or no price competition.Conclusion on PharmaceuticalsAll five forces working to industrys advantageWould expect the industry to be highly profitable.ProfitabilityofUSIndustriesPharmaceuticals26.8Gas&ElectricUtilities10.5Tobacco22.0FoodandDrugStores10.3Household&PersonalProducts20.5MotorVehicles&Parts9.8FoodConsumerProducts20.3HomeEquipment9.5MedicalProducts&Equipment18.8Railroads9.0Beverages18.8Hotels,Casinos,Resorts8.0Scientific&PhotographicEquipt.16.5Insurance:LifeandHealth7.6CommercialBanks16.0BuildingMaterials,Glass7.0Publishing,Printing14.3Metals6.0PetroleumRefining14.3Semiconductors&Apparel14.3ElectronicComponents5.8ComputerSoftware13.5Insurance:Property&Casualty5.3Electronics,ElectricalEquipment13.3FoodProduction5.3Furniture13.3Telecommunications3.5Chemicals12.8ForestandPaperProducts 3.5Computers,OfficeEquipment11.8CommunicationsEquipment(4.0)HealthCare11.5Airlines(34.8)(Grant,2005)Median return on equity(%),1999-2002 .Some comments on the methodVery similar to the structure,conduct performance modelOld wine in a new bottles?Porter stresses that the five forces are the only factors:there never any othersExample of government as possible“6th”But government should be considered through impact on one or other of the 5 forces.Comments5 forces determine overall industry profitability,not the individual firmsIn any industry profitable firms work alongside much weaker firmsIn airlines the environment is very unfavourable but some airlines still do well.Percentage of variance in firms return on assets explained by:IndustryeffectsFirm-specificeffectsUnexplainedvarianceSchmalensee(1985)19.6%0.6%80.4%Rumelt(1991)4.0%44.2%44.8%McGahan&Porter1997)18.7%31.7%48.4%Hawawinietal(2003)8.1%35.8%52.0%Roquebert et al Roquebert et al(1996)(1996)10.2%10.2%55%55%32.0%32.0%Misangyi et al Misangyi et al(2006)(2006)7.6%7.6%43.8%43.8%n.an.aDoesIndustryMatter?Source:Grant,6th Ed.CommentsPorteronchange:A static approach?But Porter emphasis on the search for change in environmentthe new weaknessesthe new sources of strengthEg:change in road recovery services.Road Recovery ServicesBreak down services,once dominated by AA and RACThe Past:Nationwide network of recovery vehicles using own communications systemVery high entry barriersNo close substituteLittle price competition between suppliersBuyers had measure of membership loyaltyNo significant forces amongst suppliers.Changes in the road recovery marketA new look at the AA and RACStrategy of supplementing own recovery fleet with local independent subcontractorsTechnology:the development of open mobile phone networksResult:development of a nation-wide network of independent subcontractors,using mobile phone networks to communicate.Changes in the 5 forcesEssentially vertically integrated businesses performing two functionsRunning an breakdown insurance planRunning the fleet of breakdown recovery vehiclesStrategy changed industry structure:Created two separate industries in place of one.Unwitting consequences?Use of subcontractors dismantled the vertical integration on the margins of the industryCrucially it brought down the entry barriers on the breakdown insurance functionMany entrants without a recovery network of their own:Green Flag,Direct Line,Aviva,Crowded market,very price competitive.ConclusionsThe“5 forces”remains after 30 years the most widely used tool of industry analysis It is the first step in strategic analysisBut the individual enterprises performance depends as much or more on its own particular resources and capabilities.此课件下载可自行编辑修改，供参考！感谢您的支持，我们努力做得更好！