| My first idea for this assignment was to
shoot the interior of a Wal*Mart
store. I strongly felt that no collection of markets could be complete
without the world largest retailer and one of the most powerful market
forces out there. Unfortunately this was not
possible.
So I decided to use this virtual room for an interpretation of
the five strategic market forces, a framework by Harvard Business
School professor Michael
Porter used to analyze and understand businesses and the markets
they operate in. These forces are universal and apply to businesses
of any size and in any market.
The five competitive forces are:
On top of these natural forces, this article will argue that although
markets are one of the most efficient decision making mechanisms,
a competition watchdog is necessary
to ensure proper market functioning.
Read an application of this analysis to Wal*Mart. |
