Re-examining the Relevance of Michael Porter’s ‘Five Forces Framework’: Business Strategy and Competitiveness in the Contemporary Globalised World

This article contemporary relevance and practical applicability of Michael Porter’s ‘Five Forces Framework’ in the present day globalised business world. Porter propounded his ‘Five forces framework’ model in 1979 to enable business to assess their business strategy to create and maintain their competitive edge in their industry. This has been an influential model employed by businesses for decades and taught as staple part of business management courses across the world since then. More than four decades after the popularisation of the model, using existing scholarly literature and detailed examples drawn from different industry sectors, this article analyses its continued significance in employing successful business strategy in a rapidly changing, fast-paced technologically driven globalised contemporary world.