Week 6 Reading Reflection

I think that the part of the reading this week that surprised me the most was that the five forces model was so old. I'm mostly surprised that it's still considered relevant when it's about thirty years old. Nothing this chapter was too confusing. I did find the diagram of the five forces a little weird though. I just think there could've been an easier way to explain the concept. I think that I would ask the lecturer to explain more about why fast growing industries and profits don't go hand-in-hand. I'd also ask if he would change anything about the five forces model to make it a better reflection of this generation. I feel as though he was trying to squash assumptions about the market that many people make and was very blind to some things. For example, I definitely think that the buyer has bargaining power in this day and age with the ability to compare choices much more quickly.