busn624 research project 2

busn624 research project 2

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Complete your Research Project 2 in a Word document, APA formatted, and then submit it in the Assignment section of the classroom by midnight, EST, Day 7.
The instructions concerning this assignment as well as the grading rubric are reproduced below.

In 2009 the American auto industry was in a dire economic state. Chrysler was in Chapter 11, GM was on the brink of bankruptcy, and Ford’s future was at best uncertain. The demise of the U.S. auto industry would have a devastating impact on our national economy and specifically the economies of Michigan and Ohio.

Economists occasionally use Porter’s five forces framework when making a qualitative evaluation of a firm’s strategic position. According to Porter, his model should be used at the industry level, defined as a marketplace in which similar or closely related products or services are marketed. This research paper requires the application of Porter’s Five Forces Model to the auto industry.

Porter’s analytical framework consists of those forces that affect a producer’s ability to serve its customers and make a profit. A change in any of these five forces requires a re-assessment of the marketplace. The five forces include:

1) The threat of substitute products: The existence of close substitute products (i.e., high elasticity of demand) increases the propensity of customers to switch to alternatives in response to price increases.

2) The threat of the entry of new competitors: Unless there are significant barriers to entry, profitable markets that yield high returns will attract firms (i.e., perfect competition), effectively decreasing profitability.

3) The intensity of competitive rivalry: As in the case of oligopoly markets, rivals may choose to compete aggressively, non-aggressively or in non-price dimensions.

4) The bargaining power of customers: The ability of customers to put the firm under pressure due to availability of existing substitute products, buyer price sensitivity, uniqueness of the products, etc.

5) The bargaining power of suppliers: The cost of factors of production (e.g. labor, raw materials, components, and services such as expertise) provided by suppliers can have a significant impact on a company’s profitability. As such suppliers may refuse to work with the firm or charge excessively high prices for unique resources.

References

Porter, M.E. (1979) “How competitive forces shape strategy”, Harvard Business Review, March/April 1979.

Porter, M.E. (1980) “Competitive Strategy”, The Free Press, New York, 1980.

Porter, M.E. (1985) “Competitive Advantage”, The Free Press, New York, 1985.

Develop a detailed paper applying Porter’s Five Forces Model to the American automotive industry, with a focus on the U.S. market.

Your paper needs to include at least three scholarly sources, i.e. peer reviewed articles. I strongly recommend the use of the APUS library for these sources, as most acceptable resources can only be found in protected databases.

Your paper should be about 10 double spaced pages, in APA format, and structured as follows:

1. Cover page with a running head
2. Abstract
3. Introduction to the Auto Industry
3.1. Industry Definition
3.2. Industry Profile
3.3. Industry Market Structure
3.4. Future Outlook

4. Porter’s Five Forces Strategy Analysis as it applies to the Auto Industry
4.1. Bargaining Power of Buyers
4.2. Bargaining Power of Suppliers
4.3. Competitive Rivalry in the Industry
4.4. Threat of New Entrants
4.5. Threat of Substitutes

5. Conclusion
6. Reference

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You must proofread your paper. But do not strictly rely on your computer’s spell-checker and grammar-checker; failure to do so indicates a lack of effort on your part and you can expect your grade to suffer accordingly. Papers with numerous misspelled words and grammatical mistakes will be penalized. Read over your paper – in silence and then aloud – before handing it in and make corrections as necessary. Often it is advantageous to have a friend proofread your paper for obvious errors. Handwritten corrections are preferable to uncorrected mistakes.
Use a standard 10 to 12 point (10 to 12 characters per inch) typeface. Smaller or compressed type and papers with small margins or single-spacing are hard to read. It is better to let your essay run over the recommended number of pages than to try to compress it into fewer pages.

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