Definition:
Porter’s Five Forces is a model that identifies and analyzes five competitive forces that shape every industry, and helps determine an industry’s weaknesses and strengths. Frequently used to identify an industry’s structure to determine corporate strategy, Porter’s model can be applied to any segment of the economy to search for profitability and attractiveness.
Further Reading:
Book: Playing to Win by A G Lafley and Rogel L. Martin
Definition:
A best of breed system is the best system in its referenced niche or category. Although it performs specialized functions better than an integrated system, this type of system is limited by its specialty area.
To fulfill varying requirements, organizations often use best of breed systems from separate vendors. However, maintaining multiple systems provides little cross connectivity, which creates maintenance and integration challenges.
Further Reading:
Book: Playing to Win by A G Lafley and Rogel L. Martin
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