In light of the material in last week's chapter reading on Porters Five Forces, and reflecting on the paper "Five Forces Model" by Michael Porter and the Michael Porter Video “The Five Competitive Forces that Shape Strategy” (both in the supplemental materials) please respond to the following points:
a) Why are Porter's forces important to strategic analysis and planning?
b) Discuss in detail how each of these forces apply to the company you identified in Learning Activity #1 above.
c) The "Barriers to Entry" aspect of the Porter's 5 Forces measures how easy or difficult it is for new entrants to enter into the industry. Identify a barrier of entry that might be associated with the company you discussed in Learning Activity #1 above, and describe how one might address or overcome that barrier.