Porter's Competitive Environment Of The Ritz-Carlton Business

1092 Words5 Pages
Identify and list each of the Five Forces. There are several tools that are apparently used to understand how the environment affects businesses whether positively or negatively. However, Carpenter, Bauer and Erdogan (2010) provided the Five Forces frequently used to analyze the competitive environment of a firm which was developed by Michael E. Porter in 1979. The Porter’s Five Forces includes Rivalry, New Entrants, Buyers, Suppliers, and Substitutes. To conceptualize these forces, it is appropriate to present them in a chart and this will be actualized in the next topic below. You may want to do this using a visual aid, like a chart. Having identified the Five Forces above, it is essential to use a visual aid, and specifically, a Flow Chart to present them here. Pick any organization you are familiar with and describe its overall competitive environment using each of the forces. There are basically numerous organizations that are familiar to me; however, the organization of my emphasis is Ritz-Carlton hotel, founded in 1983 and headquartered in Chevy Chase, Maryland, United States of America (Ritz-Carlton Hotels & Resorts, n.d.). The Ritz-Carlton is a mogul in the hotel and resort industry and its overall competitive environment is obvious as more individuals and corporate bodies are infiltrating the industry. Like any other organization in an industry, Ritz-Carlton is faced with the five forces described by Michael Porter. First, hotel and resort business is quite

More about Porter's Competitive Environment Of The Ritz-Carlton Business

Open Document