In Chapter 3, we learned Michael Porter’s Five-Forces Model to evaluate

competitiveness within the company’s industry. Porter’s five forces include: rivalry, new entrants, suppliers, and buyers. Harvard professor Michael Porter’s book “Competitive Strategy” propelled the concept of industry environment into the foreground of strategic thought and business planning. (Pearce & Robinson, 2000, p.84) Porter contends “The collective strength of these forces determines the ultimate profit potential in the industry, where profit potential is measured in terms of long-run return on invested capital”. (Wheelen & Hunger, 1998, p.60) The cornerstone of the book is an article from the Harvard Business Review in which Porter explains the five forces that shape competition in an industry. (Porter, 2012, Porter, 1996; The Five Competitive Forces, 1996)
The five forces are:

-Rivalry among existing competitors
-The bargaining power of suppliers
-Threat of new entrants to the market
-The bargaining power of buyers
-Threat of substitute products/servicesThe pool of industries is listed below:

-Aerospace manufacturing
-Agricultural equipment
-Cosmetic manufacturing
-Cruise industry
-Hunting accessoryYou are expected:

-SelectONE of the industries from the above pooland identifya specific companyin that industry.
-Identifyeach of the key drivers (that is, the Porter’s five driving forces) of competition for that industry and specifically for the selected companybased on the Porter’s Five Forces analysis. (That is, company-specific and industry-specific factors, not the conceptually “generic” factors).
-Explain in detailshow the above-mentioned external competitive forces are affecting the business environment of the industry in general, and the selected company in particular on the overall strategic planning processes that are unique to that industry in general and that company in particular.
-Support the rationale for your explanation.
-Use the appropriate APA formatted scholarly reference source and corresponding in-text citations in all your postings.References:
Pearce II, J.A. & Robinson Jr., R.B. (2000).Strategic management: Formulation, implementation and control 7th ed.). New York: McGraw-Hill/Irwin
Porter, M.E. (2015, November 5). What is strategy? Michael Porter explains common misunderstandings. [Video] Retrieved fromhttps://www.youtube.com/watch?v=3Hd88eBgkw0
Guest speaker Michael Porter. What is strategy? (2012, November 13). [Video] University of North Carolina at Chapel Hill. Retrieved from https://www.youtube.com/watch?v=KvYwKM5bY0s
The five competitive forces that shape strategy (1996). [Video] Harvard Business Review. Retrieved fromhttps://www.youtube.com/watch?v=mYF2_FBCvXw
Unknown (2014). Introduction to strategic management.  Washington, D.C.:  The Saylor Foundation.
Wheelen, T.L., & Hunger, J.D. (1998).Strategic management: and business policy: Entering 21st century global society. (6th ed.). New York: Addison-Wesley.
Week 2 Learning Activity 2
Utilizing the industry/company selected for Learning Activity #1 and your comments regarding the key drivers of competition based on Porter’s 5 Competitive Forces, you are expected:

-Respond to the following questions:
-What do you believe is a limitation to only evaluating those competitive forces for that selected industry/company?
-What are some of the implications that areNOT consideredwhen the strategic planners only utilize Porter’s 5 Competitive Forces?
-How might you identify those additional external factors  that had been previously excluded in your Learning Activity 1 when you applied only Porter’s 5 Competitive Forces?
-Support the rationale for your explanation.
-Use the appropriate APA formatted scholarly reference sources and corresponding in-text citations in all your postings.References
Guest speaker Michael Porter: What is strategy? (2012, November 13). [Video] University of North Carolina at Chapel Hill. Retrieved from https://www.youtube.com/watch?v=Zq9-JT8moU4
The five competitive forces that shape strategy: An interview with Michael E. Porter, Professor Harvard University (1996). [Video]Harvard Business Publishing. Retrieved from https://www.youtube.com/watch?v=mYF2_FBCvXw