Key Competencies and Porters Five Forces Model - 799 Words

LLAGAS, Ariedna ABAYON, Abegail DELOS SANTOS, Christian Mikaella MONSALE, Ma. Beatrice SOLARTE, Rollie TRIÑANES, Angelique Vinn Rose LLAGAS, Ariedna ABAYON, Abegail DELOS SANTOS, Christian Mikaella MONSALE, Ma. Beatrice SOLARTE, Rollie TRIÑANES, Angelique Vinn Rose 2016 Key Competencies and Porter’s Five Forces Model BSBA HRDM 4-1 ENMA 4113 Group 1 2016 Key Competencies and Porter’s Five Forces Model BSBA HRDM 4-1 ENMA 4113 Group 1 I. KEY COMPETENCIES COMMUNICATION * It is a pivotal role to the development of the entrepreneurial society. * Entrepreneur must have the skills in communication to compete with other entrepreneur like getting more investors. Methods of Communication 1†¦show more content†¦Video conferencing requires the use of special video equipment, so you may need to check with your technology department to determine if it is something your company is capable of doing. LEADERSHIP * It is the primary force behind a successful change. Entrepreneurial leadership – a leadership that is based on the attitude that the leader is self-employed. Leaders of this type: * Takes initiative * Demonstrate * Take risk * Take responsibility EXPERIENCE * As an entrepreneur, you must employ all present and previous experience you have into the business you are building. II. PORTER’S FIVE FORCES MODEL 1 Barriers to entry in the Business * Power is also affected by the ability of people to enter your market. If it costs little in time or money to enter your market and compete effectively, if there are few economies of scale in place, or if you have little protection for your key technologies, then new competitors can quickly enter your market and weaken your position. If you have strong and durable barriers to entry, then you can preserve a favorable position and take fair advantage of it. 2 Threat from substitute products * This is affected by the ability of your customers to find a different way of doing what you do – for example, if you supply a unique software product that automates an important process, people may substitute by doing the process manually or byShow MoreRelatedEssay on Competing on Resources: Strategy in the 1990s.991 Words   |  4 Pagesto develop a business model framework that helps describe how a company’s resources drive its performance in a dynamic competitive environment. This approach integrates the internal analysis of the company (i.e. core competencies) with the external analysis of the industry and the competitive environment (i.e. Porter’s Five Force Model). The article argues that both analyses are required to accurately assess a company’s competitive position. 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