Introduction This unit will underscore that firms must identify the market in wh

Introduction
This unit will underscore that firms must identify the market in which they compete. It is not enough to identify competitors, but a strategist must also understand the entire competitive environment. Individual firms will makes decisions based not only on direct competitors but other factors that influence key business choices.
There are several tools to understand how the environment affects business decisions. The Five Forces analysis is a frequently used tool to diagnose the competitive environment for a firm. This business strategy development outline was created in 1979 by Michael E. Porter, who is the Bishop William Lawrence University Professor at Harvard Business School. His model discusses the five forces that determine competition and the industrial profitability of the market are: rivals, barriers to entry, suppliers, substitutes, and buyers.
Reading Assignment
Harvard Business School. (n.d.). The five business forces. Retrieved from isc.hbs.edu/strategy/business-strategy/Pages/the-five-forces.aspx
Martin, M. (2019, December 3). How porter’s five forces can help small businesses analyze the competition. Retrieved from https://www.businessnewsdaily.com/5446-porters-five-forces.html
Scott, G. (2020, February 21). Porter’s five forces? Retrieved from https://www.investopedia.com/terms/p/porter.asp
Optional Video
MindtoolsVideos. (2018, January 9). Porter’s five forces. [Video]. YouTube. https://youtu.be/_IaBZmB09RE
Discussion Assignment
Review the article on the Five Business Forces, first described by Michael Porter. Then, go to the Discussion Forum for Unit 2 and engage in a dialogue with your classmates by answering the following questions:
Pick any of the Five Forces and describe its key attributes. Provide an example of when this force was particularly strong in a given situation
Is the force you selected stronger or weaker in highly dynamic markets? Why?
What effect can government regulation have on each of these forces in your own country?
Your Discussion should be at least 250 words in length, but not more than 750 words. Use APA citations and references for the textbook and any other sources used.
You are expected to make at least three posts to the discussion forum during the course of the discussion period.
Written Assignment
Identify and list each of the Five Forces. You may want to do this using a visual aid, like a chart. Pick any organization you are familiar with and describe its overall competitive environment using each of the forces. Analyze how each of The Five Forces affects the organization and how each force may affect each other. Evaluate which force is the strongest and why. Which is the weakest?
Prepare a two page (double-spaced) essay. The paper should be 12-point font, Times
New Roman, be at least 500 words, and include a final source list.
Learning Journal
Document your activities, record problems you may have encountered this week, and draft answers for the Discussion and Written Assignments. In addition, consider the following questions for reflection: How effective are generic strategies? Should they be specifically tailored to each organization?