Porter's five forces model is an important tool in strategic management. Strategy students use the five forces model to conduct industry analysis by evaluating the external conditions that impact firms in a given industry. The five forces model is deceptively simple, yet it encompasses important nuances that students sometimes struggle to fully…

General and strategic management courses frequently provide external analysis tools through which students identify, classify, and assess how changes in the general external environment impact industries and firms. In this exercise, we facilitate analysis of the general environment through a popular song from the 1980s. Through analyzing an event…

This multiphase classroom exercise is designed for undergraduate students in capstone strategic management courses to become comfortable and adept at using Porter's Five Forces framework for industry analysis. Assuming students have a base level of familiarity with the framework, this exercise enables them to apply it to an industry and a company…