Essay: Porter analysis for Toyota
Globalization had indeed left its impact on the automobile industry. The market used to be dominated by a few big companies but now it is open to a plethora of now manufacturers and brands that vie for customers and their money. Taking the example of the automobile industry in theUnited States, it was dominated by the “big three”, General Motors, Ford and Daimler Chrysler.
Now foreign auto dealers are facing lesser restrictions to operate in overseas markets and in the US as well. Michael E. Porter in his book “Techniques for analyzing industries and competitors” dealt with five competitive forces that shaped all industries. This helped to analyze the intensity of competition which had an impact on the profitability of an industry. TheUSautomobile industry was considered as a force to reckon with from the days of craft production and hence would serve as a standard use case to identify Porter’s five forces. It can be seen however that the automobile industry the world over is fairly competitive.
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