*****The aspect of the IT Industry I would like to use is business software deve
*****The aspect of the IT Industry I would like to use is business software development in Healthcare. You know the EMR (electronic medical records) programs that are developed for the medical field. ****
For Week 1, you will make a qualitative evaluation of the industry’s strategic position using Porter’s five forces.
Qualitative Evaluation of the Industry’s Strategic Position (Week 1 IP)
Choose an aspect of the information technology (IT) industry (business software development n healthcare)that has not been previously used as an example in this course. Use Porter’s five forces to make a qualitative evaluation of the industry’s strategic position. Be sure to explain each of the five forces as well as explain how they relate to your chosen industry.
Note: The mobile phone industry was provided as an example in the video material and may not be used as the subject for this assignment.
Remember to include the following elements (Porter’s five forces):
Threat of new entrants: Are new entrants being attracted to the market, and are there barriers to entry in the industry?
Threat of substitute products or services: Are there other products that could be alternatives to offerings in the chosen industry?
Bargaining power of customers: What degree of bargaining power do the buyers have in terms of putting the industry under pressure to provide more products or less cost?
Bargaining power of suppliers: What is the importance of raw materials, components, labor, and services that are required for the industry, and are there substitutes for those inputs? Discuss the possibility of switching suppliers, if necessary.
Intensity of competitive rivalry: Does the industry have a sustainable competitive advantage?