Instructions: Your mission is to journey deep into the wilds of the Michael Porter article in order to track down the elusive “Five Forces Memo,” a dangerous creature known for hunting hapless business students that stray from the herd.
As an intrepid explorer, you should write a simple 1-page memo (single-spaced ok, 11 or 12 pt font), analyzing the five forces of the safari tour operator industry. Use the Porter 5 Forces article as your safari “framework” guide. Take the perspective of a potential new entrant to the safari tour operator industry. In other words, you are considering competing against Extraordinary Journeys and the other industry incumbents.
Use your very limited space wisely. I’d recommend:
A 1-sentence intro giving your overall perspective on the industry and whether you think it is economically profitable to enter.
You should just use 5 bullet points to discuss each of Porter’s 5-Forces, in turn:
For each force, you should identify whether that force is conducive to earning excess (i.e. economic) profits as a potential entrant to the industry, based on Porter’s writings and our in-class discussion
Specifically I would recommend defining each force in terms of the threat level it poses to the profitability of a potential entrant.
Example: imagine you want to buy a ranch to raise beef cattle. Using a Porter’s five forces analysis, you would have to conclude that ranching is a high rivalry business (lots of ranches out there) and that the rivalry force therefore represents a high threat to earning profits. In other words, it is suggestive of lower profits to potential entrants.
This isn’t a hard and fast rule, but if you are struggling, I would recommend using this format as a crutch.
Finally, give me a short summary of your conclusion (enter or not) and what forces(s) helped you make this decision.
Reminder: you do not need a summary or extensive introduction to these short assignments. In fact, you do not need to even include your names on the document (they are automatically tagged in Blackboard).
As always, please wait until you are fully ready to submit. Please only submit once.
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