Question

Use Michael Porter's five forces model to explain how Electronic Meeting systems offer a competitive advantage.

Answer 1

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Michael porter's five forces model explains about the competitive advantage and organization or a company can achieve if they successfully use these five forces in the business. It includes the entrance of a new competitor, customers, suppliers, companies competitors competing in the market and the substitution available of the product, etc. And if we talk about the electronic meeting system then it is a system which helps in solving problems of the organization and helps in decision making in the group working for the organization. It helps the people in reducing the cost of traveling and with the help of these people can meet by sitting at their places. Vidya efficient use of this people can get in touch with other people by sitting at their place which provides the satisfaction to the customers and you will see various software in the process competing for this software as we all know technologies growing every day and people will going to see something new every day. Show the competition is going to be very tough in the upcoming future. Moreover, you will see the substitute software as well and people also using that for getting satisfaction. People are participating in this in huge numbers and it is providing great relief for them.