Find the competitive advantage of your business. Analyze your company's competitive environment and market position!
Find the competitive advantage of your business. Analyze your company’s competitive environment and market position!
The path to success of any business begins with a strategic plan that takes into consideration company positioning, competition, risks, and opportunities. Map those building blocks with Porter’s Five Forces framework and identify your competitive advantage.
Porter’s Five Forces model is a powerful tool for analyzing strengths and weaknesses, competitive environment, as well as company positioning within an industry.
The model identifies five economic forces:
Our Porter’s Five Forces template is a free mind mapping tool you can use to fortify your business against external forces that shape industries and markets.
Use this template to conduct Porter’s Five Forces analysis. Start by determining how economic forces impact your business. Here are a few warm-up questions:
Examine your answers by scrutinizing the scale and intensity of each of the five forces and their impact on your business. Use the observations to build a solid strategy for your business.
Use this framework to analyze your company’s competitive environment — your analysis can be used to guide business strategy and increase competitive advantage!
Simply copy this template into your workspace of choice to get started.