1) What is the purpose of Porter's Competitive 5 Forces analysis as a management tool?
How is the Porter's Competitive 5 Forces analysis useful in management?
Identify new goals for the company
2) Identify new strategies for the company to reach the goals
- The strategies should be linked to the Mission statement, SWOT analysis and Competitive 5-Forces analyses.
- The strategies should be practical and mindful of the company's existing resources.
- The strategies NOT copy any existing strategies that the company may already be practising.
3. Explain why you are recommending the new goals and strategies
4. List several "actions" (tactical plans) for each new strategy that will ensure the strategy is achieved
Use the UCC ITM orange booklet for an example - Lecturer's golf club).
List the "actions" using dot points