The model, developed by Michael Porter, identifies five forces that affect the intensity of competition and thus the profitability of an industry: competition within the industry, potential new entrants, substitute products, bargaining power of suppliers and bargaining power of customers.

But how can we use this model in GoalEnvision? Let's break it down:

1. Industry competition: In GoalEnvision, you can set strategic goals that focus on differentiating your company from the competition. These goals can be placed in the Market perspective or the Sales perspective. You can also identify the capabilities needed to achieve these goals, such as unique competences or technologies.

2. Potential new entrants: You can set targets in GoalEnvision to protect your market position against potential new entrants. These objectives may involve strengthening your brand, developing strong customer relationships or creating barriers to entry through patents or exclusive agreements. These objectives can be placed in the Market perspective or the Business perspective.

3. Substitute products: In GoalEnvision, you can set goals to monitor and react to the development of substitute products. These objectives may involve following technological trends, understanding customer needs or developing new products and services. These goals can be placed in the Market perspective or the Business perspective.

4. Supplier bargaining power: You can set goals in GoalEnvision to manage the bargaining power of suppliers. These goals can be about diversifying the supplier base, developing strong relationships with strategic suppliers or increasing self-sufficiency. These goals can be placed in the Business perspective.

5. Customer bargaining power: In GoalEnvision, you can set goals to manage customer bargaining power. These goals can be about differentiating your offer, building strong customer relationships or developing loyalty programmes. These goals can be placed in the Market perspective or the Sales perspective.

By using Porter's five forces model in GoalEnvision, you can create a more robust and competitive strategy. You can identify the key challenges and opportunities in your industry and set concrete and measurable goals to address them. Moreover, you can monitor your progress and adjust your strategy over time using GoalEnvision's monitoring and reporting tools.

So, are you ready to take your strategy to the next level with GoalEnvision and Porter's five forces model? Book a demo today to see how it works in practice!