ACCA P5知识点：波特五力模型
2016-09-27 13:08阅读：
波特五力模型是迈克尔·波特(Michael
Porter)于20世纪80年代初提出，它认为行业中存在着决定竞争规模和程度的五种力量，这五种力量综合起来影响着产业的吸引力以及现有企业的竞争战略决策。五种力量分别为同行业内现有竞争者的竞争能力、潜在竞争者进入的能力、替代品的替代能力、供应商的讨价还价能力、购买者的讨价还价能力。
使用波特五力模型(见图1)将有助于确定一个行业或部门竞争的来源。那么今天东亚国际就来解析一下
ACCA
P5中波特五力模型这个知识点。
The model has similarities with other tools for environmental
audit, such as political, economic, social, and technological
(PEST) analysis, but should be used at the level of the strategic
business unit, rather than the organisation as a whole. A strategic
business unit (SBU) is a part of an organisation for wh
ich there is a distinct external market for goods or services. SBUs
are diverse in their operations and markets so the impact of
competitive forces may be different for each one.
Five forces analysis focuses on five key areas: the threat of
entry, the power of buyers, the power of suppliers, the threat of
substitutes, and competitive rivalry.
THE THREAT OF ENTRY
This depends on the extent to which there are barriers to entry.
These barriers must be overcome by new entrants if they are to
compete successfully. Johnson et al (2005), suggest that the
existence of such barriers should be viewed as delaying entry and
not permanently stopping potential entrants. Typical barriers are
detailed below.
Economies of scale
For example, the benefits associated with volume manufacturing by
organisations operating in the automobile and chemical industries.
Lower unit costs result from increased output, thereby placing
potential entrants at a considerable cost disadvantage unless they
can immediately establish operations on a scale that will enable
them to derive similar economies.
The capital requirement of entry
These vary according to technology and scale. Certain industries,
especially those which are capital intensive and/or require very
large amounts of research and development expenditure, will deter
all but the largest of new companies from entering the
market.
Access to supply or distribution channels
In many industries, manufacturers enjoy control over supply and/or
distribution channels via direct ownership (vertical integration)
or, quite simply, supplier or customer loyalty. Potential market
entrants may be frustrated by not being able to get their products
accepted by those individuals who decide which products gain shelf
or floor space in retailing outlets. Retail space is always at a
premium and untried products from a new supplier constitute an
additional risk for the retailer.
Supplier and customer loyalty
A potential entrant will find it difficult to gain entry to an
industry where there are one or more established operators with a
comprehensive knowledge of the industry, and with close links with
key suppliers and customers.
Cost disadvantages independent of scale
Well-established companies may possess cost advantages which are
not available to potential entrants irrespective of their size and
cost structure. Critical factors include proprietary product
technology, personal contacts, favourable business locations,
learning curve effects, favourable access to sources of raw
materials, and government subsidies.
Expected retaliation
In some circumstances, a potential entrant may expect a high level
of retaliation from an existing firm, designed to prevent entry –
or make the costs of entry prohibitive.
Government regulation
This may prevent companies from entering into direct competition
with nationalised industries. In other scenarios, the existence of
patents and copyrights afford some degree of protection against new
entrants.
Differentiation
Differentiated products and services have a higher perceived value
than those offered by competitors. Products may be differentiated
in terms of price, quality, brand image, functionality,
exclusivity, and so on. However, differentiation may be eroded if
competitors can imitate the product or service being offered and/or
reduce customer loyalty.
THE POWER OF BUYERS
The power of the buyer will be high where:
there are a few, large players in a market. For example, large
supermarket chains can apply a great deal of price pressure on
their potential suppliers. This is especially the case where there
are a large number of undifferentiated, small suppliers, such as
small farming businesses supplying fresh produce to large
supermarket chains
the cost of switching between suppliers is low, for example from
one haulage contractor to another
the buyer's product is not significantly affected by the quality of
the supplier's product. For example, a manufacturer of foil and
cling film will not be affected too greatly by the quality of the
spiral-wound paper tubes on which their products are wrapped
buyers earn low profits
buyers have the potential for backward integration, for example
where the buyer might purchase the supplier and/or set up in
business and compete with the supplier. This is a strategic option
which might be selected by a buyer in circumstances where
favourable prices and quality levels cannot be obtained
buyers are well informed. For example, having full information
regarding availability of supplies.
THE POWER OF SUPPLIERS
The power of the seller will be high where (and this tends to be a
reversal of the power of buyers):
there are a large number of customers, reducing their reliance upon
any single customer
the switching costs are high. For example, switching from one
software supplier to another could prove extremely costly
the brand is powerful (BMW, McDonalds, Microsoft). Where the
supplier's brand is powerful then a retailer might not be able to
operate a particular brand in its range of products
there is a possibility of the supplier integrating forward, such as
a brewery buying restaurants
customers are fragmented so that they have little bargaining power,
such as the customers of a petrol station situated in a remote
location.
THE THREAT OF SUBSTITUTES
The threat of substitutes is higher where:
there is product-for-product substitution, eg for fax and postal
services
there is substitution of need. For example, better quality domestic
appliances reduce the need for maintenance and repair services. The
information technology revolution has made a significant impact in
this particular area as it has greatly diminished the need for
providers of printing and secretarial services
there is generic substitution competing for disposable income, such
as the competition between carpet and flooring manufacturers.
COMPETITIVE RIVALRY
Competitive rivalry is likely to be high where:
there are a number of equally balanced competitors of a similar
size. Competition is likely to intensify as one competitor strives
to attain dominance over another
the rate of market growth is slow. The concept of the life cycle
suggests that in mature markets, market share has to be achieved at
the expense of competitors
there is a lack of differentiation between competitor offerings
because, in such situations, there is little disincentive to switch
from one supplier to another
the industry has high fixed costs, perhaps as a result of capital
intensity, which may precipitate price wars and hence low margins.
Where capacity can only be increased in large increments, requiring
substantial investment, then the competitor who takes up this
option is likely to create short-term excess capacity and increased
competition
there are high exit barriers. This can lead to excess capacity and,
consequently, increased competition from those firms effectively
'locked in' to a particular marketplace.
In summary, the application of Porter's five forces model will
increase management understanding of an industrial environment
which they may want to enter.
