Porter’s five forces is a competitive analysis model which helps us understand the nature of competition within the industry. It helps us determine the competitive forces in the industry. By using this model, one can shape strategies to get ahead of the competition. These are the five forces of the framework developed by Michael Porter:
1. The Bargaining Power of your Customers
2. The Threat of New Entrants into your Industry
3. The Bargaining Power of Suppliers
4. Threat of Substitute Products or Services
5. Rivalry Amongst Existing Firms
In my present job, I don’t think our school needs strategies to get ahead of the competition to acquire a large number of enrollees since it is a public school having a population of more than 8,000 enrollees. And with these, we lack classrooms and teachers. Presently, there are around 300 teachers in this campus but still at the start of the school year, 60-70 students will be listed for a section. As a teacher , we would be glad if there is another public secondary school opened nearby so that somehow our student population will be reduced which in turn lessen the number of students in a classroom from more than 60 to a much smaller number. And by then, a better quality education will be given to the students.
However, what will happen if the enrollees will dramatically drop to a very small number? Then, that’s a threat to our school budget subsequently a threat to the teachers who might be transferred to other schools. We will badly need this Porter’s Five Forces Model by then. :-)
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