Describe Porter’s Five Forces Model. Why do organizations use Porter’s Model? Address any weaknesses you see in Porter’s Five Forces. Is the model still relevant today? Provide a Five Forces analysis (nothing extensive) of a Fortune 500 company of your choice.

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Create an essay that addresses each of the following points/questions below. The purpose of this is to familiarize yourself with strategic planning and its tenets.

 

Be sure to begin with an outline about what you want to discuss in your essay. Pay attention to the topics below. Next, begin drafting and revising your ideas into a Word document that you will follow when recording/discussing the content in your essay. Be sure to ask for a peer review by a friend or family member. At first, just get ideas down. Once you have the content you want, you can finish editing it by paying attention to small details.

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  • Explain Porter’s generic business strategies and provide an example of each strategy.
  • Describe Porter’s Five Forces Model. Why do organizations use Porter’s Model? Address any weaknesses you see in Porter’s Five Forces. Is the model still relevant today? Provide a Five Forces analysis (nothing extensive) of a Fortune 500 company of your choice.
  • Research the mission statements of three Fortune 500 companies and address the following points/questions:
  • What makes the missions statements impactful or not?
  • Do the mission statements have any similarities between them, and if so, what are they?
  • Do you find the lengths of the mission statements at all relevant?

If you had to revise or develop anew each of the mission statements, how would the new mission statements read?  Also, develop three objectives (for each company) that will help the companies fulfill their “new” missions.

 

Note: it is recommended to do a little research and/or gather some knowledge on the companies before developing their new mission statements and objectives.

 

Length: 1800 words not including title and reference page

Structure: Include a title page and reference page in APA style. These do not count towards the minimal word amount for this assignment.

References: Use the appropriate APA style in-text citations and references for all resources utilized to answer the questions. Include at least three (3) scholarly sources to support your claims.