• Anchit Goyal

The 5 forces of competitive advantage, as outlined by Porter, attempt to explain how firms can achieve Competitive Advantage in the industry they belong too. While this theory is certainly applicable to a fair degree, it is not free from its limitations. This paper critically analyses the Porter’s 5 forces model while also comparing it with various other frameworks that attempt to explain Sustainable Competitive Advantage. It goes on to show the progress of tools used by management theorists to understand the importance of (sustainable) competitive advantage. This is done with the help of models that comprise of both the industry-based view, such as Porter’s 5 forces, and the resource-based view, such as Barney’s VRIN framework. The progress this paper looks at also includes relatively more revolutionary views and perspectives from thinkers like Grundy and Recklies. The paper broadly covers the explanation of the five forces with a few examples, after a short introduction, prior to examining the advantages and disadvantages of the framework. Here the paper outlines various other frameworks that suggest means of overcoming a few of the limitations highlighted in Porter’s model. This includes the work of authors like Barney, Hamel & Prahalad, Teece et al., Penrose and various other esteemed management theorists. The paper finally concludes with the view on Porter’s framework highlighting the most significant merits and demerits.

Management; Porter's 5 Forces; Commerce; Competitive Advantage; Sustainable Competitive Advantage; Corporate Strategy

"A Critical Analysis of Porter’s 5 Forces Model of Competitive Advantage", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.7, Issue 7, page no.149-152, July-2020, Available :http://www.jetir.org/papers/JETIR2007313.pdf

"A Critical Analysis of Porter’s 5 Forces Model of Competitive Advantage", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.7, Issue 7, page no. pp149-152, July-2020, Available at : http://www.jetir.org/papers/JETIR2007313.pdf