Several frameworks can help businesses analyze their competitive environment.
Porter's Five Forces Porter's Five Forces is a popular model that examines five critical forces affecting industry competition: the threat of new entrants, the bargaining power of suppliers, the bargaining power of buyers, the threat of substitute products, and industry rivalry.
SWOT Analysis A SWOT analysis helps businesses identify their internal strengths and weaknesses, as well as external opportunities and threats. This analysis is useful for strategic planning and decision-making.
PESTEL Analysis PESTEL analysis evaluates the external macro-environmental factors that can impact a business, including political, economic, social, technological, environmental, and legal factors.