Content of the paper
‘Analysis is concise, detailed, and thorough; accounts for all five forces.
Each Porter force is discussed and applied to the assigned company and industry. Each force rating (e.g. high, moderate, or low) is identified for each five forces category. Includes a minimum of two five forces characteristics applied and explained for each of the five forces.
Introduction: Clear and concise. 1-page maximum to include company and industry information
Conclusion: summarizes key points of the paper and provides an evaluation of the company’s five forces and strengths about the industry as a whole.
Week 6 Porter’s paper
Company’s Introduction and Industry Overview
For the Week 6 Porter’s paper, I was assigned with the company Caterpillar which falls under the mechanical engineering industry of the US. In the United States as a whole. Caterpillar is one of the leading manufacturers of construction and mining products. The company manufactures various products which include machinery, on-road trucks, defense products, and engines. These products are manufactured in around 110 facilities and plants worldwide out of which 50 belong to the US only (Fortune, 2022). This company is currently offering high competition to many other US-based mechanical engineering companies such as Clarke Valve, Apptronik, and Enerpac tool group, amongst others. Therefore, it can be said that the company in the mechanical engineering industry of the US holds a high potential to evolve in the future. According to the reports, from the year 2006-2020, the US market for mechanical engineering accounted for around US $421 dollars (Placek, 2022).
Porter’s Five Forces analyses
The final porter’s paper for Caterpillar will be displayed in a graphic representation such as a table. In Porter’s five forces, I will be analyzing the company’s competitive advantage through factors like potential threats from new entrants, powers of the buyers, power of suppliers, threats from substitute products, and the competitive rivalry of the company as a whole. Through the graphic representation, I can be able to provide clear reasons for my opinions. According to me, the company will have a high threat from the new entrants, the power of suppliers will be low, the power of buyers will be moderate, the threat from the substitute products high, and competitive rivalry will also be high and might also keep increasing.
Conclusion
In the concluding paragraph of my Porter paper, I am planning to mention the various strengths that my assigned company holds which provide it an added advantage over its competitors.
References
Placek, M. (2022). Revenue of the mechanical engineering industry in the U.S. from 2006 to 2020. Retrieved on 19th September 2022, from: https://www.statista.com/statistics/263280/size-of-the-us-market-for-mechanical-engineering/
Fortune (2022). Caterpillar. Retrieved on 19th September 2022, from: https://fortune.com/company/caterpillar/
