The Five Competitive Forces That Shape Strategy

[}The Five Competitive Forces That Shape Strategy

Heavy Equipment Training Sector

The heavy equipment training sector has been known to be am booming field in the context of American society. It includes training on the efficient usage of cranes, rigging and other types of heavy equipment training. This type of industry serves to address the needs of customers pertaining to oil, gas and mining. It has been known to attract customers of construction and power generation. Since there are a lot of technicalities involved in the process of using the heavy equipment, there must be appropriate training provided to the workers suing them. Without proper training they would not be able to use it appropriately. Since America depends on the use of these equipments on a widespread basis, there is a great need for the policy makers to consider the strategic use of this industry. This type of sector is considered to be a niche market as not many organizations have exploited the opportunities provided by this sector. Thus, the industrial training sector still has to be adopted by various organizations (Munier, 2013).

Overview

Michael E Porter has pointed out some insightful details in the five competitive forces that shape strategy. Before the publishing of his article, organizations and strategists use to think in the short term and just used tactics for countering the threat of their immediate competitor. But Porter has pointed out that there are several other factors that need to be considered in order to gauge the industry growth and ascertain the market position. Businesses have been known to prosper in niche markets that signify the weaknesses of these forces. When these forces are at their weakest, organizations flourish in the context of a niche market. The industry structure comprises of New Entrants, ...