Five Forces Analysis
There are some factors outside the industry where UMUC Haircuts operates that influence the nature of competition among the different competitors. The following table explains what each force means to UMUC Haircuts, assesses their impact on it and states whether it should affect Myra’s operational effectiveness strategy for a competitive advantage.
Justification of Selected Strategy for Competitive Advantage
The five forces model helps businesses assess the nature of their industry’s competitiveness and develop corporate strategies accordingly (Porter, 2008). The operational effectiveness strategy is appropriate for UMUC Haircuts because it would allow it to maximize the use of its inputs by offering Continue reading...