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How michael porter five model affects Costco Wholesale Corporation

According to Michael Porter, an industry is affected by certain forces, which enable them to attain different levels of profitability. These five forces help managers analyze the industry to gain a better understanding and develop a more effective business strategy. In the discount retailing industry, it is important to consider the following when considering entry: Threat of New Entrants: Four major competitors, WalMart, Kmart, Target and Costco Wholesale dominate the discount retail industry. The threat of new entrants is low, as this small number of large firms has spent decades establishing their position in the market. While online retailers, such as Amazon.com, and smaller department stores do create a semi-competitive environment, there is no major threat as the entry barriers…

Target’s Internal and External Factors

Target’s Internal and External Factors Target is an American retailing company founded in 1902. It is the second largest discount retailer in the United States (target.com, 2013). Targets mission is to make their store the preferred sopping destination for their guests by delivering outstanding value, continuous innovation and exceptional guest experience by consistently fulfilling their “Expect more pay less” brand promise. In order for Target to compete with the number one largest competitor Wal-Mart the four functions of management must be implemented in their strategic business plan. In this paper our team will explain how internal and external factors affect the four functions of management. Included are specific examples of globalization, technology, innovation, diversity, and ethics. Globalization Globalization is a…