Competitive analysis is a major component to performing an external analysis. Michael Porter of Harvard University introduced the concept of the Five Forces and is a leading academic authority on competitive analysis.
When developing your external analysis for StilSim Personnel, pay particular attention to all Five Forces and how each could represent possible a potential competitive threat to StilSim. Perform your own mini-analysis and reflection to the questions below, in preparation for the external analysis assignment. Reply to this thread with comments on how this material applies to StilSim Personnel.
What competitive elements make up each of the Five Forces?
How do they impact StilSim?
Do any of these potential threats represent a possible opportunity for StilSim to compete against others?
Some will be clearly identified in the simulation, while other competitive forces and trends may be found in today's real business world. Use your knowledge of the employment service industry to explore the possibilities.
NOTE: When exploring competitive forces, reflect on national trends found in the real business world today, as well as specific information provided in the simulation. Remember to examine competitive forces at both levels.
After you have posted your responses to the topic questions, review the thoughts of other students and respond to at least one classmate. Pose questions and offer ideas in responses to their posting(s). Do you agree with their comments? Remember that simple "Me too" and "I agree" responses do not count toward participation points.