Porter's Five Forces Model Essay

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Porter’s five forces model’s Limitations
Normally, Porter’s five forces model is considered as one of the most comprehensive framework for competitive analysis of the industry. But the comprehensive feature of the framework holds the limitation of the inclusion of all factors affecting the competition. But it is very difficult now to include all factors in a single model because of the abrupt pace of change (BPP, 2008). Hence the analysis filled with high volume of objectivity while avoiding the value of subjectivity of the material leading to generation of complacency.
However, the limited effect of Porter’s five forces model on the analysis can be reduced with the use of strategic tools like SWOT analysis and trend analysis. The combination of models like ratio analysis, SWOT analysis and Porter’s five forces model can reduce the limited impact of these models (if they were used individually) in addition to enabling me to
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from location of hydrocarbons and management of geological data to drilling & formation, evaluation, well construction and completion plus optimization & production. The company operating with business slogan “Big” which is not specified to the size of the company but a true representation of the philosophy of the operation and range of services provided to the customers and commitment with the shareholders. There are thirteen product service lines of Halliburton operating under two business divisions i.e. drilling & evaluation and completion & production. Company is providing its consultation and project management services for the two business divisions while considering it as a forefront element of its integrated service strategy (Halliburton, n.d.). The fundamental aspect of product service lines is accountability of the strategies regarding development of technology, process development, human resource development and allocation of
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