Explain porter five forces model

Assignment Help Operation Management
Reference no: EM13249691

You have been working for some time at Unique Shoes, a local shoe store that specializes in unusual shoe designs and custom fitting. Currently, customers come to the store to select their shoe designs and have their measurements taken for the custom fitting. The shoes are then manufactured by a supplier in another state and shipped to the store for pickup by the customer. The owner, Bill, is very interested in expanding his successful business. He has just bought Sassy Shoes, a shoe store in a good location across town, and has hired a store manager. He plans to continue selling the brands of shoes that the Sassy Shoes has been selling, but he wants to add his "unique shoes" to that store's offerings. Bill's research shows that, in addition to all of the online sources for shoes, there are many other local stores that sell shoes: outlets for major shoe store chains, mall stores that carry popular brands, small outlets and specialty shops, and department stores. While Bill has been keeping all his records of orders and sales on paper, the records at Sassy Shoes are located on the manager's PC in Excel files. Bill realizes that he must treat the two stores as a single business, with one set of accounts, one billing system, etc. He thinks this is also a good time to stop using paper records for his orders and sales. Bill really hopes to continue to expand his business by buying other shoe stores, but he will need good information about his current businesses to know when he should make his next acquisition. He has asked you to help him develop the business strategy and IT Plan to accomplish his goals. You know that there are methodologies for analyzing the business environment and that there are multiple ways to expand the business. You also recognize that IT is an important component for achieving that goal.

Explain Porter's Five Forces Model and how Bill can use it to analyze his current business and his expansion. Be sure to address each of the 5 forces and explain to Bill what they mean for his business.

 

Reference no: EM13249691

Questions Cloud

What is the optimal solution : Define the decision variables and write the linear program appropriate for maximizing monthly profit contribution. What is the optimal solution?
Explain how to make nacl from a stock solution : To make 1.50 L of 0.100 M NaCl from a 3.13 M stock solution,you would need to take ( blank) mL of the stock solution and add (blank) mL of water
What is barnding : What is barnding? What role can branding play in firm's marketing efforts?
Find the pe of the air conditioner : A 75-kg window air conditioner falls a distance of 6 m to the street below (no one is injured). What was the PE of the air conditioner
Explain porter five forces model : Explain Porter's Five Forces Model and how Bill can use it to analyze his current business and his expansion. Be sure to address each of the 5 forces and explain to Bill what they mean for his business.
Find expression which represents laplace transformed value : An RLC circuit has an initial voltage across the capacitor and polarity as marked on the circuit shown below. The switch is closed at t = 0 and a current i(t) is assumed to flow clockwise in the circuit.
Find the frequency of the eardrums vibration : When responding to sound, the human eardrum vibrates about its equilibrium position, what is the frequency (in Hz) of the eardrums vibration
What ethical challenges and dilemmas might this pose : Identify and describe Eastman Kodak's key stakeholders. What is their influence on strategy? Address Kodak's challenge in meeting the needs of shareholders versus stakeholders. What ethical challenges and dilemmas might this pose?
What is reliability : What is reliability? What is validity? Why are they important to successful academic research. Provide examples of how research methodology errors can result in poor reliability or validity.

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd