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COMM391 Section 202 Phase 1 by Mind Map: COMM391 Section 202 Phase 1
0.0 stars - 0 reviews range from 0 to 5

COMM391 Section 202 Phase 1

VanReality Potential Entrants- Medium High- It's hard to establish a good network of customer base because there are many rivals who might be willing to provide the similar service at a cheaper commission rate(maybe no commission for new entrant as their entry tactic)

We didn't pick supplier power because it is very unlikely for the home owners to collectively increase the prices, however, depending on specific location of certain houses. Moreover, if the economic condition is dipping down, the homeowners will have less power to drive prices

VAnalyst - financial institution - Group 214

You did a good job in identifying the most and the least significant forces. However, you need to identify opportunities and the threats of these forces. Each of these forces could have the potential opportunities for the success of your company if they are positively affecting your company's value proposition. You need to identify the relationship between five forces and your competitive advantage prior deciding which force is the most significant. Relevance: Adequate. Content: Adequate - . Reasoning: Good. Overall: Adequate

Most significant force: rivalry

Least significant force: Bargaining power

Substitutes are an important force to our industry. There are many different ways for consumers to purchase food. The biggest issue is the already established views of non-organic foods. Since most consumers view non-organic foods as acceptable, they choose to purchase the cheaper good (which in most case is the non-organic food). Also, with the already established "super" grocery stores, it has become more convenient for customers to buy non-organic foods. Thus, substitutes are one of the most important forces as it determines how we need to effectively price and distribute our organic foods in order to maximize revenue.

1) Substitutes

Which of the five forces is the most important for your industry? Why?

Group 205

Need more detail on the buyer power - customer loyalty is not just based on the price sensitivity of the consumers. MoveIt does big moves, which does differentiate them from their substitutes; mention that they rely too much on word of mouth advertising for their customer base. In general you could have added more detail, for example: As a moving company they must have a supplier that has their logo on their boxes. While there are many cardboard box companies to choose from, they most likely would rather deal with just one as opposed to many. So while supplier influence is low, mention why it is and what still needs to be considered. Relevance: Weak+; Content: Adequate; Reasoning: Adequate Overall: Adequate

MoveIT

Group 206

Good job outlining the substitutes, suppliers and buyers, what about new entrants? You do include competition when you mentioned that if another company does it better then it poses a problem, however talk about new entrants as well, which is another big force VAnalyst faces. Relevance: Good; Content: Adequate; Reasoning: Adequate Overall: Adequate+

VAnalyst

Group 207

You need to include more forces than just Potential Entrants and competition. What about substitutes? Buyers and Suppliers? Mention which ones are more important than the others as well, with potential entrants as your greatest threat. Mention how much influence the suppliers have in their business, can they easily change suppliers? or do they have only a few loyal ones as you seem to have hinted in your last branch. Relevance: Adequate ; Content: Adequate; Reasoning: Adequate Overall: Adequate

Data Med Medical Clinic

Group 216

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Group 218

Good observation on the situation of your company. However, you need to be more specific about your company, product or service, and their market. All five forces could be very important for the success of a business but not necessarily important for your business unless they are directly related to your competitive advantage. You need to focus on your company’s value proposition. Explain why you think each of five forces could be important to that specific value. Relevance: Weak +. Content: Weak. Reasoning: Adequate - Overall: Adequate +

Rivalry is one of the most important forces because there are several companies that offer the same services as MoveIT. Also since it's a relative new company, it might be difficult to compete in terms of pricing.

Buyer power is also crucial since customers have several potential options to choose from. However it is not the most important because if you choose an appropriate target market and differentiate your product successfully, you will have customers.

Substitutes is another force because if people have their own cars or trucks they will not require the services of MoveIT. It is not as important though because people will still need a moving service when dealing with large/heavy furniture.

Group 219

You did a good job in identifying the threats of the five forces. You mentioned that rivalry is the most important force that could affect your company, but is this a threat or an opportunity? You may notice that each of these forces could be either the potential threat or the opportunity for the success of your company. You need to identify your company's value proposition first to understand how each of five forces could affect your competitive advantage. Relevance: Adequate. Content: Adequate +. Reasoning: Good Overall: Adequate +

We believe that Rivalry is the most important of the five forces for the MoveIt company because there are a lot of similar moving companies that offer the same services. Thus, we would consider the rivalry to be high.Therefore, we believe that rivalry is one of the main forces.

As this industry has great demand, "Potential Entrants" could also be one of the more important of the five forces. We consider to this to be a medium force for the MoveIt company. It is medium because there exist some barriers to entry for new companies entering the moving industry, and they have to invest a large amount of money in securing trucks and moving supplies. As well, the fact that there are already so many moving companies in Vancouver, it could serve as a discouraging factor for newer companies to enter the moving industry.

Substitute products and services would not be as much of an acting force in this industry, as there are not a lot of substitutes in different industries for moving services. Mainly, those who are moving have the choice to either move their own furniture themselves or utilize a moving service. As such we consider this force to be low for the MoveIt company.

Group 220

You did not provide enough reasoning to support why rivalry is the most important force for your industry. Competition is one very common factor that businesses have to consider to be successful in their industry. You need to first identify your competitive advantage before you decide which of these forces could be important for the failure or the success of your company. Relevance: Weak +. Content: Adequate. Reasoning: Weak. Overall: Weak +

Group 201

Too general. You need to include more detail on the specific impacts of the forces with your business. Also include competition - even if the impact is low, mention why. Relevance: Weak ; Content: Weak ; Reasoning: Weak Overall: Weak

Industry:Medical Services

Group 213

You have mentioned some valid points regarding your competitive advantage, which I assume its your low-price goods and how suppliers can affect your costs. However, you did not explain how the power of your rivals could affect your price! Same as substitution; why do you think cheep non-organic food can affect your competitive advantage (increase your price)? You need to consider the specific effect of five forces on your company's value proposition. Relevance: Adequate. Content: Good. Reasoning: Good + Overall: Good -

Good Foods Canada

Group 212

You need to provide more reasoning about each force. First you need to identify your value proposition and competitive advantage of your company. Then analyze how these forces could be the potential opportunity or threat for your company's value proposition. For example, do you think "little product differentiation" and "customers have all the power" are the opportunity or the threat for your company? How these factors can affect your company's value proposition? Relevance: Adequate +. Content: Adequate. Reasoning: Weak +. Overall: Adequate

MoveIT

Group 211

Your map provides some very good reasoning about how each of five forces could be the threat or the potential opportunity for your company. Based on your ranking, I assume you believe substitution is the most important force beneficial to your company's value proposition, but why? The most important forces for your company should be the ones that benefit most your company's competitive advantage. Ask yourself these questions: "Why our company is unique?", "How can I use five forces to improve my company's competitive advantage?" Relevance: Good. Content: Adequate +. Reasoning: Good +. Overall: Good

Organic Food Chain Good Foods

Group 208

You cannot assume that a force doesn't influence your business, but rather by how much. Goodfoods has low competition, not none, unless you can prove that nobody does what they do and thus operates as a monopoly. Buyer power is not necessarily low if they are a distributor (which seems to be the case) and their customer is a retail business, in which case large quantities can be purchased. Make sure you know everything about your company. Relevance: Adequate ; Content: Weak; Reasoning: Weak Overall: Weak+

Suppliers (Goodfoods)

Group 209

Define traditional competition and explain why you believe that City Workforce won't be affected by it in more detail as your statement is vague. Relevance: Adequate ; Content: Adequate+ ; Reasoning: Adequate+ Overall: Adequate+

Substitue services is the most significant force affecting the City Workforce

Did not consider Buyers or Suppliers as being a significant force affecting the City Workforce as there will always be unemployed people looking for work, and companies needing temporary labour. In this company we have determined that the unemployed labourers are the suppliers, and the companies looking for employees are the buyers

Because the traditional temporary employment agencies are becoming phased out of the industry as there are several new online opportunities for employment, we do not believe that the City Workforce will be severely impacted by traditional competition

Potential Entrants is also considered as a significant force affecting the company, but not quite as severe as substitute services. Potential entrants into the may include similar businesses with slightly different business models which may be more appealing to people looking for temporary work.

Group 210

You outlined the most important ones but what about the others? Don't forget every force has an effect on your business even if it is small. Include Buyer power, Competition and New entrants, it is essential in order to fully understand the business. Relevance: Adequate ; Content: Adequate ; Reasoning: Weak+ Overall: Adequate

GOOD FOODS CANADA We believe that Supplier Power and Threat of Substitute Products and Services have the greatest effect on our industry

Supplier Power

Threat of Substitute Products and Services

Remember to keep formatting consistent

Group 204

Use the map's abilities to branch out and outline ALL the different forces, only the buyer force is analyzed in detail here. For example, competition could include companies hiring without the use of city workforce. Take the time to go through it once more. Also what about new entrants? Even if it might not be pertinent to the organization, mention ALL the forces and show why they are not the most important. Relevance: Weak+; Content: Weak+; Reasoning: Adequate Overall: Weak+

City Workforce

Group 203

Include more specifics on the buyer and supplier powers of VanReality, who they are and what their importance is. Mention new entrant influence on VanReality as well. Even though one power will have a greater impact than the others mention why the other ones are low, it'll help you understand the business more. Relevance: Adequate ; Content: Weak+ ; Reasoning: Adequate Overall: Adequate

VanRealty

Group 202

Include more detail on all the forces, you outlined competition, what about substitutes? They are a very important factor with city workforce, e.g. online recruitment sites or recruitment agencies. Even if a recession is occuring, you have to consider long term effects of other forces so include more detail on the buyers and suppliers. There might be many agencies but that don't necessarily correlate with new entrant power, one can set up a recruitment site relatively easily. Relevance: Weak+; Content: Adequate ; Reasoning: Weak+ Overall: Weak+

City WorkForce

New node

Group 215

Your comments are very general. You need to identify your company's competitive advantage and the specific effect of each of five forces on the success of your value proposition. Relevance: Adequate -. Content: Weak +. Reasoning: Weak. Overall: Weak +

City WorkForce

New node

New node