This paper examines how Porter's Five
Forces model has long been considered the standard in the world of marketing strategy and economics. It identifies the five forces that drive
competition, including threat of entry by new competitors, intensity of rivalry, pressure from substitute products,
bargaining power of
buyers, and bargaining power of
suppliers. In particular, it attempts to show how, despite the praise that Porter often receives, many critics and
business analysts believe that his model is now outdated. Porter's model is sometimes described as generic, and there are many researchers that point out that the model, while applicable to the era of the eighties, no longer applies to today's complex, multi-disciplinary, and technologically-advanced marketplace.