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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Five Forces Review - DQ 2

Five Forces Review - DQ 2

Q Strategy formulation plans that a manager can use according to George and Jones (2016) in chapter 6 are Porters Five Forces model. Perform a Five Forces Review of your industry or organization and describe the step by step analysis. What, if any, action plans will you make as a result of the outcome of your analysis to mitigate risk or exploit strengths?

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In my business of retail management in the retail industry, the Porter’s Five Forces Review would be as follows: Intensity of rivalry: The rivalry in the retail industry is extremely high because of the existence of already established competitors and industry rivals thriving in the target markets with the capturing of a large target market share. Therefore, there has to be regular innovation made by my organization’s retail business so that the business and the organization survives in the long run (Jones & George, 2016).