Based on your classmates’ discussion posts for Week 2, do you still believe the tools that you selected will work best for a global strategy? Why or why not?

            There are various global business tools that are currently used for the purpose of analyzing the perspectives of the competitive edge that exists in the industry.  As much as this discussion is concerned, the truth is that the selection of the Porters five Force framework will have to be perceived to have the propensity of achieving its global strategies. On the other hand, the reason as to why the use of the perceived tools is important because they have the potential of enabling the evaluating as well as assessing the competitive advantage and position that exists in such an industry (Magretta, 2012). 

            In accordance with that, what this implies is the fact that the same protocol will have to take into account the manner in which it aid in addressing the competitive attractiveness and intensity that exists in the market. Moreover, the reason for approving this tool is because it has the potentials of indentifying as well as describing the powers that exist in the modern business marketing world. It is this scenario that has the ability of enabling the company to enjoy the economies of scale as it glows. In addition to that, the reason as to why I just approve the use of such a tool is because it has the ability of enabling the management utility of the company to conduct effective strategic analytical exercises. This in return, will enable the company to become more profitable (Roy, 2009). 

What evidence do you have to support your decision?

            One of the existing evidence indicates that the continued use of Porters five force framework has been realized to enable any business organization to understand where their business powers mainly lies. The reason for that is because it enables the management authority to have the ability of identifying the existing weaknesses, perceived strengths, as well as other proposed means of avoiding business mistakes. In accordance with that, the research indicates that the Porter’s Five Forces has the ability of identifying as well assisting a business to analyze the main five competitive forces which are perceived to have the ability of shaping their industry. Moreover, such a tool is important in identifying the structure of the industry as well as determining the corporate strategies. The same tool can also be applicable to any segment of the existing industry for the purpose of evaluating its attractiveness and profitability (Kurtz et al., 2010). 
How would you refute the people who chose an additional tool rather than one of the tools that you selected?

            As much as there are various tools that can be used, the truth is that the use of the Porter’s Five Forces have been proved to have the ability of assisting the majority of the modern business organizations to have the ability of explaining the reason that makes other business in the same industry to prosper. The same mechanism is the one that have been realized to have the ability of enabling the existing companies to sustain the levels of profitability. Moreover, the effectiveness of using this tool is the fact that it will aid in identifying the structure of the company as well as its marketing strategies (Henry & Oxford University Press, 2011). 
Based on the tools that you selected, provide a brief analysis of your market, using those tools

            As much as the Porter’s Five Forces are perceived to have the potential of making the business to understand the rivalry that exists in such an industry, it is evident that it has the ability of reshaping the prevailing market conditions. The reason for that is because it has the ability of measuring some of the marketing forces that are frequently used for the purpose of measuring market attractiveness, competition intensities, and profitability. Nonetheless, the general usage of the combined global business marketing tools will have to be perceived to have the potential of enabling the customers to understand the perspectives and the competitive strengths of the enterprise (Ronan, 2005).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                                            References

Henry, A., & Oxford University Press. (2011). Understanding strategic management. Oxford: Oxford University Press.

Kurtz, D. L., MacKenzie, H. F., & Snow, K. (2010). Contemporary marketing, [ECH master]. Vancouver: B.C. College and Institute Library Services.

Magretta, J. (2012). Understanding Michael Porter: The essential guide to competition and strategy. Boston, Mass: Harvard Business Review Press.

Ronan, M. (2005). The Outsourcing Process: Strategies for Evaluation and Management. Cambridge University Press

Roy, D. (2009). Strategic foresight and Porter's five forces: Towards a synthesis. München: GRIN.