Understanding the competitive landscape is essential for any business. Porter’s five forces framework helps you do just that—quickly and accurately.
ClickUp’s Porter’s Five Forces Template makes it easy to assess your industry’s competitive strength and position yourself accordingly. With this template, you can:
- Analyze and visualize the five forces driving competition in your industry
- Identify potential opportunities and threats for your business
- Build strategies that increase profitability and protect against risk factors
Ready to get started? ClickUp's Porter's Five Forces Template will help you gain a competitive edge — no matter what industry you're in!
Benefits of a Porter's 5 Forces Template
Porter's Five Forces analysis can help you identify the competitive advantages you need to stay ahead in the marketplace. When you create a Porter's Five Forces template, you'll be able to:
- Understand the industry you're operating in and determine the relative strength of each of the five forces
- Identify areas of potential growth and potential threats
- Gain insight into the competitive landscape and develop strategies for outmaneuvering competitors
- Position your company for success in the long run
Main Elements of a Porter's 5 Forces Template
ClickUp's Porter's 5 Forces Template is designed to help you analyze the competitive environment of a business. This List template includes:
- Custom Statuses: Create tasks with custom statuses such as Open and Complete to keep track of the progress of each step in the analysis
- Custom Fields: Categorize and add attributes to manage your tasks and easily visualize the five forces of competition
- Custom Views: Open 2 different views in different ClickUp configurations, such as Porter's 5 Forces and Get Started Here, so that you can hit the ground running
- Project Management: Improve analysis tracking with tagging, nested subtasks, multiple assignees, and priority labels
How to Use a Porter's 5 Forces Template
Porter’s 5 Forces is a useful tool for understanding the competitive dynamics of an industry. By understanding the external environment and how it affects your business, you will be better prepared to compete and create a successful strategy. Here are the steps to use the Porter’s 5 Forces template:
1. Identify the industry
The first step is to identify the industry and determine the relevant players in the market. This includes suppliers, customers, competitors, and potential new entrants or substitutes.
Use the Board view in ClickUp to visualize all the players in the industry and create a map of your competitive landscape.
2. Assess the level of competition
Once you have identified all the players in the market, the next step is to assess the level of competition. This includes analyzing the number and size of competitors, the barriers to entry, and the presence of substitutes.
Create tasks in ClickUp to categorize competitors and analyze the level of competition.
3. Evaluate the bargaining power of buyers
The third step is to evaluate the bargaining power of buyers. This includes analyzing the number and size of buyers, their ability to influence prices, and their level of brand loyalty.
Create custom fields in ClickUp to track buyer power and evaluate the impact of buyers on pricing.
4. Assess the bargaining power of suppliers
The fourth step is to assess the bargaining power of suppliers. This includes analyzing the number and size of suppliers, their ability to influence prices, and their level of brand loyalty.
Create custom fields in ClickUp to track supplier power and evaluate the impact of suppliers on pricing.
5. Analyze the threat of new entrants
The fifth step is to analyze the threat of new entrants. This includes analyzing the barriers to entry, the ease of access to resources, and the presence of substitute products.
Create tasks in ClickUp to categorize new entrants and analyze the threat of new entrants.
6. Assess the threat of substitutes
The sixth and final step is to assess the threat of substitutes. This includes analyzing the ease of access to substitute products, the cost of switching, and the level of brand loyalty.
Create tasks in ClickUp to categorize substitutes and analyze the threat of substitutes.
Get Started with ClickUp's Porter's 5 Forces Template
Business analysts can use this Porter's 5 Forces Template to help everyone stay on the same page when it comes to analyzing a company's competitive position and market conditions.
First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.
Next, invite relevant members or guests to your Workspace to start collaborating.
Now you can take advantage of the full potential of this template to analyze Porter's 5 Forces:
- Use the Porter's 5 Forces View to analyze the competitive forces that shape an industry’s structure
- The Get Started Here View will give you a space to brainstorm and store your ideas
- Organize tasks into two different statuses: Open, Complete, to keep track of progress
- Update statuses as you analyze Porter's 5 Forces to keep stakeholders informed of progress
- Monitor and analyze tasks to ensure maximum productivity