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Which of the following is a drawback of Porter's five forces model? Group of answer choices...

Which of the following is a drawback of Porter's five forces model?

Group of answer choices

a. The model describes competition narrowly as a firm's closest competitors.

b. Managers cannot determine the changing speed of an industry or the rate of innovation.

c. It fails to provide a basis for deriving implications for a firm's strategic position within an industry.

d. The model fails to consider that threat of substitutes can come from outside a given industry.

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Answer #1

Answer - b. Managers cannot determine the changing speed of an industry or the rate of innovation.

Porter's five forces model helps the company to analyse competition and their strength and weakness but it doesn't focus on the environment it is working in. It is one of the biggest drawback of porter's five forces model. If any change occurs in the environment like amendments regarding product by govt. Or increase in tax then there is no use of porter's five forces model.

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