Objective: students need to be able to give a description of the industry selected for this purpose using Porter’s Five Forces Model. All the information should come from secondary sources, so students would need to cite their sources appropriately (following the APA standard in My Monroe).
Suggested Outline: students may want to use the following suggested outline to guide their effort in developing the paper.
1. NAICS code and description of the industry selected (optional).
2. Country level information: current size of the industry in terms of revenues, evolution of the industry’s revenues in terms of historical figures (at least 5 years), number of competitors, segments of the industry, quantitative information about those segments.
3. State level: same as above but for the most likely state in which the student’s business might be developed.
4. City level: same as above but for the city in which the student’s business might be developed.
5. Porter’s Five Forces Model: applied to the city level. Students need to explain as much as possible about each one of the 5 forces. In regards to competitors, after giving general information about the specific competitors in the selected city, students’ need to give as much information about the main competitors (based on the ones that make 50% of the market share, for example).
6. Students need to follow the materials given to them in the first three weeks of the course:
6.1. Porter’s Five Forces Model original paper.
6.2. Investopedia’s 12 application examples document.
6.3. Purdue University’s Industry Analysis Assessment document.
6.4. All electronic databases (Hoover’s, Standard & Poor) in the Monroe electronic databases library.
7. Include as much numeric tables and graphs as deem appropriate.
8. Check the syllabus to know when you need to submit a draft of your paper, and when you would need to submit the final version of it.