In previous issues of Tankcontainer Magazine we introduced Porter’s well-known ‘Five Forces’ model for analysing the attractiveness and likely profitability of the tank container leasing industry.
Professor Michael Porter is a Harvard-based academic with a worldwide reputation as one of the foremost authorities on the global competitiveness of industries. He is the author of a compendium of books and articles on competitive strategy and competitive advantage and is said to be the most cited author in business and economics.
Porter’s so-called ‘Five Forces’ model is a simple but powerful way of understanding the competitiveness of an industry sector, and for identifying the potential profitability of a company’s strategy. It has become one of the most popular and highly regarded business strategy tools and, along with the ubiquitous SWOT (Strengths Weaknesses Threats Opportunities) analysis, has become an essential market analysis tool in most company board rooms.
The model recognises that tank container lessors keep a close watch on their rivals but it encourages them to look beyond the actions of their competitors and examine what other factors could impact the business environment. It identified five........
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