Business Perspective - UIS

MBA Portfolio - Blog 2 "The Five Forces is a framework for understanding the competitive forces at work in an industry, and which drive the way economic value is divided among industry actors" First described by Michael Porter in his classic 1979 Harvard Business Review article. Reference -  h ttps://www.isc.hbs.edu/strategy/business-strategy/Pages/the-five-forces.aspx Porter's Five Forces was developed by  Michael E Porter  of Harvard Business School in 1979. Below are Porter's five forces: Threat Of Entry Bargaining Power Of Buyers Bargaining Power Of Suppliers Threat Of Substitute Products Rivalry Among Existing Firms This is a simple but very effective tool. It helps to examine companies profitability in competitive environment. Business strategies can be adjusted based on findings of Porter's five forces model to be profitable in competitive market.   Below is one sample Porter Five Forces Analysis of StarBucks: Reference -  https://www.porteranal...

  1st MBA Portfolio Blog: This is the first blog for my Journey to MBA at University of Illinois Springfield. I learned lot of new  things this week which include navigating through Canvas to Discussion board, course, modules, etc. Module 1 explains business fundamental concept, Business Goals, Vision, Ethics and leadership Below is short and simple explanation of basic Business fundamental concepts: Business Goal  - First purpose of business is to maximize profit. However it is also important for business to maintain high level of social responsibility and contribute to the well-being of the communities they serve  Business Vision - A good business leader is able to see the big picture and has a clear vision of where the company is headed, and is able to communicate this vision to others. Business Mission is a statement that outlines the purpose, goals, and values of a company. It communicates the company's reason for existing, and serves as a guide for all decisio...