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Five I’s Strategic Analysis Student’s name Institution Five I’s Strategic Analysis The Five Forces of Porter is a powerful but simple tool which is necessary for understanding the power position in a business context. This tool has great significance since it helps an entrepreneur to be aware of both his current rivalry's strength position and the competition strength of the next position this business person wishes to move. When business owners understand all these, they can take advantage of the strength situation, work on improving their weaknesses, and be cautious when it comes to making steps in business (Warner, 2010). The strategy is conventionally used to find out if services, new products, or business organization can be profitable. However, it can be very productive when used in the understanding of power balance in various situations. In this article, I am going to discuss the Five I's Strategy and how it can be helpful in a business situation. The first step is to identify the issue questions; this is where entrepreneurs need to ask themselves what issue their businesses are facing, i.e. they should familiarize themselves with the issue. After that, these employers then need to find out at what stage of the issue’s lifecycle is the issue? Secondly, the business owners should identify the strategic shareholders who are interested in their businesses (Warner, 2010). As per this, the entrepreneurs needs to ask themselves which shareholders will benefit from the way that problem is tackled and who will support that problem-solving strategy. Additionally, the entrepreneur should be aware of the number of shareholders who will not be for the way that
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