Week 7 - Capstone

Five Skills Employers Want

• Professionalism / Work Ethic– Demonstrate integrity in all

your work functions– Work in a disciplined manner,

completing projects beforedeadlines and meeting goalsas set

– Maintain a sense of ownership and responsibility in the work that you complete.

Five Skills Employers Want

• Written Communication– Communicate clearly and

succinctly, with accurate spelling and grammar.

– Clarity and content are extremely important in the workplace

Five Skills Employers Want

• Speech Communication– Effectively communicate your

ideas in the workplace throughspeech

– Manage verbal and nonverbalcommunication effectively

– Avoid miscommunication using both verbal and written communication

Five Skills Employers Want

• Work

Porter’s Five Forces

• Competition – How much power your competitors have to reduce your profitability

Competitors

• Competitors have more power when…– Products or services are commoditized– Brand loyalty is minimal

• Competitors have less power when…– Products or services can be differentiated– Brand identity is strong

Porter’s Five Forces

• Suppliers – How much power your suppliers have to reduce your profitability

Suppliers

• Suppliers have more power when…– Supplies are unique and difficult to duplicate• i.e. Intel microprocessors

– Distribution channels are limited– Supplies are perishable

• Suppliers have less power when…– Supplies are readily available – Supplies are commodities

Porter’s Five Forces

• Customers – How much power your customers have to reduce your profitability

Customers

• Customers have more power when…– They can easily switch to a competitor– They are highly price sensitive– Substitute products/services are available

• Customers have less power when…– Your product/service is scarce– You can differentiate your product/service– Your product/service has no substitutes

Porter’s Five Forces

• Barriers to Entry – How easy it is for new companies / employees to enter your industry

Barriers to Entry

• Barriers to Entry are low when…– It requires minimal investment to enter the

industry– The industry is unregulated– Intellectual property is of limited importance

• Barriers to entry are high when…– Intellectual property is important– Regulatory pressures are high– Fixed costs are high

Porter’s Five Forces

• Substitutes – How many alternatives exist to the product/service you provide? How readily available are they?

Substitutes

• The threat of substitutes is high when…– It’s easy for buyers to switch to a different product– There are many substitutes available

• The threat of substitutes is low when…– Your product or service is unique and

differentiated– Few substitutes are available