Understanding how competitive forces shape strategy

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Reference no: EM131481518

Over 30 years ago Michael Porter identified a holistic approach to understanding how competitive forces shape strategy. He posited that the only way to truly insulate an organization from underlying economic volatility is by understanding the 5 competitive forces and how they relate, fundamentally, to the organization.

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

Using American Airlines identify the key drivers of competition for that industry and specifically for the selected company using the Five Force model. Explain how those external competitive forces are affecting the industry and company and the effect of those forces on the overall strategic planning processes uniquely for that company and generally for that industry. Offer supporting rationale for your explanation and be sure to reference your statements using proper APA formatting.

Reference no: EM131481518

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