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| 个人信息 |
| 姓 名： |
张译员 [编号]:1034 |
性 别： |
女 |
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| 擅长专业： |
商业，金融业，电信业，网络相关 |
出生年月： |
1986/11/1 |
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| 民 族： |
汉族 |
所在地区： |
江苏 泰州 |
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| 文化程度： |
本科 |
所学专业： |
电信+外语 |
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| 毕业时间： |
39994 |
毕业学校： |
华南理工大学 |
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| 第一外语： |
英语 |
等级水平： |
流利 |
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| 口译等级： |
高级 |
工作经历： |
1 年 |
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| 翻译库信息 |
| 可翻译语种： |
英语 |
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| 目前所在地： |
江苏 泰州 |
| 可提供服务类型： |
笔译、家教 |
| 每周可提供服务时间： |
30-50小时 |
| 证书信息 |
| 证书名称： |
CET-6 |
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| 获证时间： |
2008/6/1 |
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| 获得分数： |
561 |
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| 工作经历 |
| 工作时期： |
2006/11/1--2008/7/1 |
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| 公司名称： |
明基 |
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| 公司性质： |
其它 |
| 所属行业： |
计算机/互联网/IT |
| 所在部门： |
市场 |
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| 职位： |
绿卡工程师 |
| 自我评价： |
追求卓越的人 |
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| 笔译案例信息 |
| 案例标题： |
Discuss how Porter’s 5 Force model might contribute to a SWOT analysis |
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| 原文： |
NB:
It will NOT be sufficient to simply describe SWOT and the Porter model.
Your assignment should include examples to illustrate/emphasise points you are making. |
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| 译文： |
Introduction
Strategy is the masterpiece of work of an organization (Grant, 2005). There are kinds of analysis methods and tools around the world which can help to make strategy, just list a few: Porter's five forces model, SWOT, PEST. Generally speaking, Porter's (2004) Five Forces Model belongs to industry analysis while a SWOT Analysis can apply to situation analysis and measures a business unit, a proposition or idea; a PEST analysis measures a market and potential advantages according to external factors, covering the fields of Politics, Economics, Society and Technology. Briefly, Porter's Five Forces model is mainly used to analyse competitive position; SWOT analysis is beneficial to identify a company's or organization's strengths, weaknesses, future market shares and potential business threats. Undoubtedly, analysis methods can be combined to resolve a complicate business problems. It is common and helpful to make a PEST analysis prior to a SWOT analysis. Of course, Porter's five forces model can also be contributed to SWOT analysis. This essay will firstly discuss characters of both Porter's five forces and SWOT. Following this, analysis of how the two analysis methods work well with each other will be provided. In the end, a specific example will be given to exemplify the points.
Characters of these two analysis approaches
Porter's Five Forces Model
Michael Porter's (2004) famous Five Forces of Competitive Position model benefits a broad range of business companies around the world when providing a particular perspective, by applying which a corporation or business organization's competitive strength and position can be effectively assessed and intelligently analysed. Understanding the nature of each of these forces provides organizations the necessary insights to help them make the appropriate management strategies, importantly, to be successful in their market (Thurlby, 1998).
As a powerful analysis method, just as another two universal analysis methods, say, SWOT and PEST, Porter's Five Forces model can provide good analytical result together with the combined application of two other models mentioned above. In figure 1, the key points of Porter's five forces are listed in detail, by studying and concentration on which people, readers company or Chief Executive Officers, can acquire a wide range of profound analysis of making competitive position. Such a method is quite useful when being applied to create strategy, plans, or making investment decisions that will be carried out in a company or organization.
SWOT ANALYSIS
Another favored and popular analysis tool is the SWOT analysis, it is an quite useful tool for comprehending marketing and making decision. Moreover, it can be applied to almost any kinds of situations in business deals and organizations. The areas it can be applied expands to a broad extend: business analysis, strategic management, competitor strength evaluation, marketing strategy making, business development, product quality enhancement and completing research reports.
SWOT is the abbreviation for Strengths, Weaknesses, Opportunities and Threats. In all, SWOT analysis can be used for all sorts of decision-making, and it stimulates an effective and productive thinking pattern with proactive thinking, which is totally different from purely based on impulsive and instinctive reactions.
Accomplishing a SWOT analysis can be very simple in some sense. SWOT is said to be a popular member among the good subjects for workshop sessions. In addiction, SWOT analysis also welcomes a large number of zealous chasers in brainstorming activities when dealing with the team work.
The precondition to successfully use SWOT analysis
-Completely know the company's general performance, especially the advantage and disadvantage;
-Set a clear band between the current situation and the future situation;
-Consider all the situations as a whole;
-Analyse your competitors;
-Simplify the problem as you can to avoid immoderate complication and analysis.
-Not confine analysis totally to the SWOT rules, keep in mind that SWOT differs in different users, just be flexible and make changes according to different situations (Bensoussan & Fleisher, 2008).
How Porter's Five Forces contribute to SWOT
Just as mentioned above, analysis methods can be combined to resolve a problem. In order to explore the inner and external relationship between the two, the most possible thing managers should do is to start an analysis based on the two analysis tools and see how well these two partners work together. Keep in mind that the 4 key words in making a SWOT analysis are Strength, Weakness, Opportunities, Threats.
Porter's five forces--force 1: Threat of intense segment rivalry
This is in close relationship among a wide range of interest groups in most industries. As part of the general business mission, the companies make competitive strategy aiming to build more beneficial factors and develop advantages that could win over their strong competitors. Therefore, there are always conflicts and counterwork, which stimulate and finally generate the competition among existing industries. The competition always exists in the aspects of fixing a price, advisement, product position and introduction, after service and etc.
The intensity of rivalry suggests the extent to which the value created by an industry will be diluted through intensive competition. Also, among the several forces, rivalry is only one of factors that decide industry attractiveness.
Considering SWOT. Complete analysis of this force will mainly contribute to Threats analysis. Moreover, organizations will detect more opportunities and self-advantages in the process of analysing competitors.
Porter's five forces--force 2: Threat of new market entrants
Obviously, in one aspect, new entrants will bring about new throughput and new resources to the market. In another aspect, they desire to obtain positions in the existing market which will incur the market share competition and raw materials competition among new industries and existing industries. Finally, a general decline in profit of some industries will then be expected. More seriously, the survival of these industries may be a problem. The degree of malignant competition depends on two aspects: the difficulty for new entrants to set step into an industry and how the existing industries will react to new entrants.
Considering SWOT. If the entry barrier exists for new entrants, then the threats for an organization will temporarily come from existing organizations. And the correspondent strategy, say, avoids paying too much attention to new rivals, will be more pertinent and will convert to Strengths. Or if the threats from entrants could not be avoided, then analysis of such force will be contributed to threats at least.
Porter's five forces--force 3: Bargaining power of buyers
Item 3 relates customers, they influence the existing industries' capability to gain profit by bargaining and calling for high-quality product and after service. Generally speaking, relative situations listed below results in a comparatively high force:
The customers group size is small while their consumption amount (count by individual) is relatively large which occupies a large percent of all the sales.
The correspondent bargainers are comprised of companies of small scale.
The products customers buy are sorts of standardized products, in other words, the industry is not a monopoly.
Low switching cost between suppliers.
Considering SWOT. It is well known that customers are the god, especially in the process of making marketing strategy. Who wins the customers, who gain the market share? However, it is not easy to cater to customers without providing reasonable price and satisfied service. Kippenberger (1998) advocated that it would be helpful to understand the differences between potential buyer power and their incentive. In fact, in this issue, the possibility to successfully convert potential power into buyers' willingness and action contributes to the Opportunity in SWOT. In opposite, the failure to detect the possibility may incur threats especially when the competitors find that key factor.
Porter's five forces--force 4: Power of suppliers
The analysis of supplier power typically concentrates first on its relative size compared with industry participants and then on the factor of inputs. Porter indicates that (2004) the situation that customers are charged at different prices in accordance with value differentiation created for buyers' various tastes and demand always suggests that the market is characterized of having high supplier power but low buyer power.
Considering SWOT: the power of supplier can generate an mirror effect of buyer effect.
Porter's five forces--force 5: Threat of substitute products (including technology change)
Substitute products expose an industry's profitability to threats. Partly relying on the performance-price ratio of the different types (brands) of products or services, customers can completely turn to new products or brands if their demand are equally satisfied with a better performance-price ratio (except the brand effect, say, some loyal brand fans will be much more stubborn than broad masses). The threat of substitution also comes from switching costs.
Considering SWOT. This force is quite related to Threats analysis and can be combined with force 1 to give an integrated analysis.
However, Mark Daniell (2005) indicates in his book that the traditional models may stimulate useful strategic thinking and generate creative tactical means. In this aspect, decision makers should go beyond demonstrated traditional limitations of traditional approaches to the structure of strategy. Acquiring insight into relationships among different methods may be a good way.
Specific Examples based on Porter's 5 forces and SWOT analysis
A Virtual Product Launching of P&G company
In this section, in order to ensure Porter's five forces works well with SWOT, a virtual product launching based on P&G's company culture style is stimulated here. Of course, it is not real.
Jenster and Hussey (2001) indicated that any strategy for any organization has to build from what that organization is, which means the first task to understand the present strengths, weakness, capabilities, resources, and vulnerabilities, in relation to the external environment in which it operates.' In fact, before starting an strategic analysis, several factors that should be kept in mind first are: the company culture, the general mission and objectives, the vision, the goal of this strategy, the nature of a firm’s strength and weakness, the values and expectations which will influence strategy making.
P&G Overview
Mission
The mission is trust and enhance life quality and make everyday life a bit better (Dyer, Dalzell, & Olegario, 2004).
Categories P&G compete (P&G, 2009):
Personal and Beauty
House and Home
Health & Wellness
Baby & Family
Pet Nutrition & Care
Batteries and Razors/Blades
Strategic Focus
Drive core business of Baby Care, Fabric Care, Feminine Care, and Hair Care into stronger global leadership positions.
Grow leading brands in its biggest markets and with its largest customers.
Invest in faster-growing businesses with higher gross margins, primarily in the Health Care segments.
Build on opportunities in select developing markets and with lower income customers.
Porter's five forces analysis
Threat of intense segment rivalry
The existing strong competitors, including Loreal and Unilever, impose great pressure on P&G's every action. Each company is sophisticated and adept at Marketing analysis and detecting the market demand. Considering P&G company culture. However, P&G has expanded its products to more and more segments, covering Personal and Beauty, House and Home, Health & Wellness, Baby & Family, Pet Nutrition & Care, Batteries and Razors/Blades. In other words, P&G has touched customers' life in almost every aspect. It gradually sets up the company image-to make life better and attracts potential customers from its competitors. Even though, the threats from other rivals could not be neglected since they are specialized at different segment which will win over others in at least a period. P&G: strong threat from rivalry.
Threat of New Entrants
As it is known to all, P&G is a very powerful brand in all the related industries which causes a high entry barrier for new entrants. In fact, the other existing strong competitors such like Loreal and Unilever also exert high pressure for potential entrants into this industry. Moreover, Pantene is a well-known brand in hair-care sections, its proper position catches loyal customers ranging from vigourous young ladies to graceful mid-aged ladies. It is hard and risky for new entrants who try to win occupations from the existing competitors. P&G: Limited power from new entrants.
Threat of Substitute product
Substitute products come from not only from P&G's competitors, but also itself. There have been already several brands P&G managed in the segment of Hair Care, such as Pantene, Aussie, Fekkai, Head & Shoulders, Herbal Essences, Infusium 23. P&G manages every brand well with proper product position to avoid competition ' at home'. For example, Pantene's mission is to rizz and boost volume, or add moisture for strength and smoothness, while Fekkai is dedicated to emphasis creativity, elegance and style. However, the competition from other company's products is real and furious. In order to cater for the same group of customers, especially the largest customer group, every company makes its best to gain the market share. In this sense, Pantene faces strong power from substitute product.
The power of buyer
Consumer-products companies face comparatively weaker buyer power because customers are diverse with different tastes so then have weak bargaining power. However, considering that if the buyers are retailers rather than individuals. Retailers like Wal-Mart, Watsons, Target, and other supermarkets are quite capable to negotiate with companies which rely much on these retailers. In this sense, P&G faces strong buyer power from retailers.
The power of supplier
Companies face kind of supplier power (especially considering the costs) when they tend to switch supplier. Moreover, unlike other companies who depend on raw materials and necessary technology for production improvement, P&G has its own Research Development Department and factories. In addition, P&G have powerful marketing strategy tank which can directly manage the advisement, deploy the executive strategy and media action without seeking help from professional advisement company. P&G faces limited supplier power.
Considering SWOT, some points could be generalized from the above analysis using the Porter's five forces method;
Strengths: stead mission and foresight, multifunctional departments, brand power, high market share, broad range of existing or potential customers who are loyal to P&G;
Weakness: Not available in this analysis;
Opportunities: No strong potential new entrants because of the barriers set by existing companies;
Threats: Existing competitors such like Loreal and Unilever, the pressure from consumption deflation arising from global economic crisis.
If more information or company report could be available, Further work to be done is to do a SWOT Matrix, since all the best management models have four quadrants, and the SWOT matrix is no exception.
Conclusion
In the analysis of ' How Porter's Five Forces contribute to SWOT ', the entrance of new competitors, slow market growth, increased bargaining power of key buyers or suppliers, technological changes, and newly revised regulations could all impose threats to a firm’s survival and success. Since opportunities and threats are mainly generated from the external environment, SWOT analysis is expected to take consideration of the results arises from a complete environmental analysis. And strengths and weakness are decided by the inside factors, such like company culture and long-run mission, SWOT analysis could also used to develop a self-analysis. In the process to analyze problem with application of Porter's five forces analysis, some conclusions or factors generated in the analysis could be helpful to assist to SWOT analysis.
Appendix
Figure 1 Porter's Five Forces
(Resource from Chapman, 2005)
Figure 2 SWOT Analysis Diagram
(Resource from Ivan, 2008)
References:
Bensoussan, B. E. & Fleisher, C. S. (2008). Analysis without Paralysis: 10 Tools to Make Better Strategic Decisions. New Jersey: FT Press.
Chapman, A. (2005), retrieved on March 9, 2009, from:
http://www.businessballs.com/freematerialsinword/free_SWOT_analysis_template.doc
Daniell, M. (2005). Strategy: A Step by Step Approach to the Development and Presentation of World Class Business Strategy. New York: Palgrave Macmillan Ltd.
Dyer, D., Dalzell, F., Olegario, R. (2004). Rising Tide: Lessons from 165 Years of Brand Building at Procter & Gamble. Boston: Harvard Business School Press.
Grant, R.M. (2005). Contemporary Strategy Analysis. Oxford (U.K.): Blackwell Publishing Ltd.
Ivan, K. (2008). Mobile Marketing SWOT Analysis and C2S, Retrieved on March 9, 2009, from:
http://www.eyeline.mobi/blog/2008/12/17/mobile-marketing-swot-analysis-and-2s/
Kippenberger, T. (1998). Strategy according to Michael Porter, The Antidote. Vol. 3 Issue 6, pp. 24-25.
Jenster, P. & Hussey, D. (2001). Company Analysis: Determining Strategic Capability. England: John Wiley & Sons, Ltd.
Porter, M. (2004). Competitive Strategy: Techniques for Analyzing Industries and Competitors. New York: Free Press.
P&G (2009) US Products by Category. Retrieved on March 9, 2009, from:
http://www.pg.com/common/product_sitemap.shtml |
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