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The use of this model can be seen as effective for business and strategic planning, marketing planning, and research and development. The Porter Five Forces Model can also ensure a company's performance is associated with the powerful forces of change that are affecting business environment. This model can also be useful when a company decides to enter its business into new markets or new countries. In this case, the model helps to break free of unconscious assumptions, and help to effectively adapt to the realities of the new environment. (Hill, Jones Seventh Edition 2007).
It is fair to assume that economic conditions affect how easy or difficult it is to be booming and profitable at any given time, because they affect both resource availability and cost, and also demand...
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