I discovered how the Five Forces model operates by watching this video. It can assist in classifying how each environment, culture, or company must function to succeed. Applying these forces to actual industries is fascinating.
Learning about Porter's Five Forces in most if not all of the business courses that I have taken will always have my appreciation because this is the one module/topic/lesson that I will remember and apply to any business that I plan on starting for myself. I have learned so much with this particular topic and enough time to genuinely comprehend what I am learning, each and every time it is taught to me. Thank you Business Professor!
In this video, I really loved learning the different factor of competitive that is business. The four competitive industry really helped me understand what type of business are in. When i think of famous business i know, i think of who their competitor is so it was fun to learn more in detail of it all in this video.
Porter's Five Forces is something that has been hammered into my head over the course of my many business classes. Knowing what your firm has versus the outside forces in an industry, can mean all the differences in whether you're negotiating with suppliers, buyers, or worrying about new entrants or the threat of substitute products.
Prior to watching this video, I had a vague understanding of what an industry and how Porters model changed business outlook. Now after I've watched this video I have a much greater understanding of how each of the 5 forces can change how a business can be successful in a specific industry beyond just surviving.
This video helped me understand and have more insight about the five forced model and its factors which are Perfect competition, monopolistic competition, oligopoly, monopoly. It helped me learn more about these.
Well, thanks for this video because now I understand that Organizations can comprehend industry dynamics, spot opportunities, and dangers, and create plans to gain a competitive advantage by examining these forces. This model is frequently used to evaluate the attractiveness of a sector and guide strategic choices. Many thanks for this video.
I found how Porter's Five Forces work in real world scenarios interesting, once I have started my career, it will be interesting to see it play out with my own eyes.
Some of my other business courses have mentioned Porter’s Five Forces Model but none of them had as much information about it as this video did. I really enjoyed learning more bout it.
I have covered Porter's Five Forces before in another business class but going over this video was very informative and will continue to help me throughout my career.
This was not the first time that I had been introduced to Porter's Five Forces. Focusing more on the topic and going more in depth was super helpful and I'm sure I'll find it useful in my next classes.
I enjoyed this video because I am sure that if I was not a business major I would have never learned about this. I enjoyed how the five forces were explained and some examples were given. I think that this was an amazing video with great information.
I really liked seeing porter's five forces applied to real-life business. I always get a better understanding by seeing things in real-life situations.
Because I have completed other business courses that have covered this topic, I have familiarized myself with Porter's Five Model through reading about it in the past. Still, it was fascinating to see the definition originate from a new point of view. The five models are the same, but because to the definitions provided in the film, I was able to assess the situation in a more nuanced manner.
I have heard about the Porter's five forces model from other people and in other classes but I feel as though this video gave me a better understanding about the concept.
It was incredibly interesting to see the ideas I had learned in earlier economics studies broken down in more detail. It is incredibly helpful to see business examples of the various models, such as oligopoly and monopolistic competition, to put them into context.
I have read up on Porter’s Five Model before because I have taken other business classes that have gone over this concept. However it was interesting to see the definition come from a different standpoint. THe five models are the same but with the definitions in the video I was able to analyze in a more complex way.
In this video i learned that how the five forces model work. The threat of entry risks potential competitors. The power of suppliers can raise the production cost, the power of buyer is when customer can put producers margins demanding lower price or higher product quality, the threat of substitutes are consumers can purchase instead, rivalry among existing competitors is when companies within the same industry jockey for market.
I was really interested to learn about De Beers Group and how monopoly had an impact on them. I also really enjoyed learning about the porter's five forces model.
The model eases the process of building your business marketing and operational strategies, as it helps you better understand how your industry's structured.
Porter's five forces model seems especially important to me. It details the power held by both suppliers and buyers. It also detail rivalries and substitutes. Overall it sets a good foundation for strategic management.
In this video, I learned how the Five Forces model works. The threat of new entrants refers to the risk of potential competitors entering the market. The power of suppliers can increase production costs, while the power of buyers allows customers to push for lower prices or higher product quality, affecting producers' profit margins. The threat of substitutes involves consumers choosing alternative products, and rivalry among existing competitors occurs when companies within the same industry compete for market share.
This video is very informative, found interesting what the five forces were and what it can help with in the real world. Also how the factors work as well.
This video did a great job of explaining competitive advantage. This will help future students/ future managers to understand profit potential and how to have a successful organization. One of the biggest hurdles in business is competition. You have to stay ahead of it and constantly change your game plans if you want to succeeed.
Porters five forces can definitely be carried over into a business model. This information could give you insight on how to enter, run, and exit your company efficiently.
Porter's Five Forces is an important piece to learn by any business student. It can help categorize how each culture, environment, or business needs to run in order to be successful.
It was really cool to see the concepts I’ve learned in my previous economics classes and break them down more in depth. Seeing company examples for the different models like oligopoly and monopolistic competition really helps to put them into real world examples
Thank you so much for your explanation. I have a quick question: if the buyer's demand increases, in this case how the following forces will be The threat of new entrants = ( Low or High or Medium)? Threat of substitutes = ( Low or High or Medium)? Rivalry among existing companies = ( Low or High or Medium)? Bargaining power of buyers = ( Low or High or Medium)? Bargaining power of suppliers = ( Low or High or Medium)? By your explanation, I figured out that rivalry among existing will be (Lower). But what about the other forces?
it is a complicated question. One factor change, it may cause other factors change accordingly. Like a ripple effect. However, under different scenarios, or in different industries, those factors could change independently.
I am quite familiar with Porter's Five Forces Model from a previous course I took in management. It is very interesting to apply these forces to real-world industries.
I discovered how the Five Forces model operates by watching this video. It can assist in classifying how each environment, culture, or company must function to succeed. Applying these forces to actual industries is fascinating.
Learning about Porter's Five Forces in most if not all of the business courses that I have taken will always have my appreciation because this is the one module/topic/lesson that I will remember and apply to any business that I plan on starting for myself. I have learned so much with this particular topic and enough time to genuinely comprehend what I am learning, each and every time it is taught to me. Thank you Business Professor!
In this video, I really loved learning the different factor of competitive that is business. The four competitive industry really helped me understand what type of business are in. When i think of famous business i know, i think of who their competitor is so it was fun to learn more in detail of it all in this video.
Porter's Five Forces is something that has been hammered into my head over the course of my many business classes. Knowing what your firm has versus the outside forces in an industry, can mean all the differences in whether you're negotiating with suppliers, buyers, or worrying about new entrants or the threat of substitute products.
Prior to watching this video, I had a vague understanding of what an industry and how Porters model changed business outlook. Now after I've watched this video I have a much greater understanding of how each of the 5 forces can change how a business can be successful in a specific industry beyond just surviving.
This video helped me understand and have more insight about the five forced model and its factors which are Perfect competition, monopolistic competition, oligopoly, monopoly. It helped me learn more about these.
Well, thanks for this video because now I understand that Organizations can comprehend industry dynamics, spot opportunities, and dangers, and create plans to gain a competitive advantage by examining these forces. This model is frequently used to evaluate the attractiveness of a sector and guide strategic choices. Many thanks for this video.
Interesting to see the definitions of the five forces like the threat of new entrants from a different perspective.
I found how Porter's Five Forces work in real world scenarios interesting, once I have started my career, it will be interesting to see it play out with my own eyes.
Some of my other business courses have mentioned Porter’s Five Forces Model but none of them had as much information about it as this video did. I really enjoyed learning more bout it.
I had never heard about Porter's five Forces Model so it was really neat to learn about this for the first time!
I have covered Porter's Five Forces before in another business class but going over this video was very informative and will continue to help me throughout my career.
Great video! It's always fun to learn about competing firms and how they meet the customer's specific needs.
This was not the first time that I had been introduced to Porter's Five Forces. Focusing more on the topic and going more in depth was super helpful and I'm sure I'll find it useful in my next classes.
I enjoyed this video because I am sure that if I was not a business major I would have never learned about this. I enjoyed how the five forces were explained and some examples were given. I think that this was an amazing video with great information.
This was a fantastic video! Thank you for keeping this class interesting.
I always had a idea on what Porters 5 force model was but this video filled me in on key points and was very informative
I really liked seeing porter's five forces applied to real-life business. I always get a better understanding by seeing things in real-life situations.
Because I have completed other business courses that have covered this topic, I have familiarized myself with Porter's Five Model through reading about it in the past. Still, it was fascinating to see the definition originate from a new point of view. The five models are the same, but because to the definitions provided in the film, I was able to assess the situation in a more nuanced manner.
I have heard about the Porter's five forces model from other people and in other classes but I feel as though this video gave me a better understanding about the concept.
It was incredibly interesting to see the ideas I had learned in earlier economics studies broken down in more detail. It is incredibly helpful to see business examples of the various models, such as oligopoly and monopolistic competition, to put them into context.
It was really interesting hearing porter's five forces being applied to real businesses.
This video was very interesting to me regarding all of the different factors that affect a competitive rivalry. It was very informative as well.
Very interesting. There is a lot to think about when running a business.
I have read up on Porter’s Five Model before because I have taken other business classes that have gone over this concept. However it was interesting to see the definition come from a different standpoint. THe five models are the same but with the definitions in the video I was able to analyze in a more complex way.
In this video i learned that how the five forces model work. The threat of entry risks potential competitors. The power of suppliers can raise the production cost, the power of buyer is when customer can put producers margins demanding lower price or higher product quality, the threat of substitutes are consumers can purchase instead, rivalry among existing competitors is when companies within the same industry jockey for market.
I was really interested to learn about De Beers Group and how monopoly had an impact on them. I also really enjoyed learning about the porter's five forces model.
I enjoyed learning this subject. I thought the examples were great.
The model eases the process of building your business marketing and operational strategies, as it helps you better understand how your industry's structured.
Porter's five forces model seems especially important to me. It details the power held by both suppliers and buyers. It also detail rivalries and substitutes. Overall it sets a good foundation for strategic management.
In this video, I learned how the Five Forces model works. The threat of new entrants refers to the risk of potential competitors entering the market. The power of suppliers can increase production costs, while the power of buyers allows customers to push for lower prices or higher product quality, affecting producers' profit margins. The threat of substitutes involves consumers choosing alternative products, and rivalry among existing competitors occurs when companies within the same industry compete for market share.
This video is very informative, found interesting what the five forces were and what it can help with in the real world. Also how the factors work as well.
This video did a great job of explaining competitive advantage. This will help future students/ future managers to understand profit potential and how to have a successful organization. One of the biggest hurdles in business is competition. You have to stay ahead of it and constantly change your game plans if you want to succeeed.
Porters five forces can definitely be carried over into a business model. This information could give you insight on how to enter, run, and exit your company efficiently.
The Five Forces Analysis is crucial for businesses trying to analyze how they are doing within an industry and where threats may arise.
Porter's Five Forces is an important piece to learn by any business student. It can help categorize how each culture, environment, or business needs to run in order to be successful.
Oligopolies are an interesting phenomenon. When barriers to entry are high, firms can gatekeep thier particular industry.
It was really cool to see the concepts I’ve learned in my previous economics classes and break them down more in depth. Seeing company examples for the different models like oligopoly and monopolistic competition really helps to put them into real world examples
Thank you so much for your explanation.
I have a quick question: if the buyer's demand increases, in this case how the following forces will be
The threat of new entrants = ( Low or High or Medium)?
Threat of substitutes = ( Low or High or Medium)?
Rivalry among existing companies = ( Low or High or Medium)?
Bargaining power of buyers = ( Low or High or Medium)?
Bargaining power of suppliers = ( Low or High or Medium)?
By your explanation, I figured out that rivalry among existing will be (Lower). But what about the other forces?
it is a complicated question. One factor change, it may cause other factors change accordingly. Like a ripple effect. However, under different scenarios, or in different industries, those factors could change independently.
good keep the nice work uo
I am quite familiar with Porter's Five Forces Model from a previous course I took in management. It is very interesting to apply these forces to real-world industries.
I didn't really know anything about this topic however I understood a little bit more about this topic just not much