Reference no: EM131516099

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/services

The pool of industries is listed below:

• Food processing
• Gardening accessory and equipment
• Garment manufacturing
• Steel manufacturing
• Trucking industry

You are expected:

1. Select ONE of the industries from the above pool and identify a specific company in that industry.
2. Identify each of the key drivers (that is, the Porter's five driving forces) of competition for that industry and specifically for the selected company based on the Porter's Five Forces analysis. (That is, company-specific and industry-specific factors, not the conceptually "generic" factors).
3. Explain in details how 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.
4. Support the rationale for your explanation.
5. Use the appropriate APA formatted scholarly reference source and corresponding in-text citations in all your postings.