This website uses cookies to ensure you have the best experience. Learn more

Michael Porter’s Five Forces Applied To Tucker & Associates, Pllc

862 words - 4 pages

In the Law Firm of Tucker & Associates, PLLC there are many services offered such as Foreclosure Defense, Short Sale Negotiations, Bankruptcy, Immigration, Uncontested Divorces, Personal Injury, and Wills & Estates. The company initially began in order to fulfill the needs of the Hispanic community by providing their law experience, knowledge and well equipped negotiations skills in order to help their client’s afford their mortgage payments and rescue them from foreclosure. However the law firm must take into consideration the “Five Forces Model” by Michael Porter to anticipate their competitors and prepare enough strategic advantage. I prepared the following analysis in regards to Michael Porter’s Model applied to Tucker & Associates.
The five forces entail the threat of substitutes, the supplier power, and the threat of new entrants, the buyer power, and the existing competitors. The first force introduced in this paper is the threat of substitutes. This market force has a huge leverage in the market. One the primary drivers of this market force is Non-Profit Organizations or other organizations that will not charge upfront costs to accommodate clients. For example, some Realtors have attempted to imitate the Foreclosure Defense procedures by helping clients negotiate a loan modification for free and if the client is not satisfied with the modification agreement they offer to short sale the property. Opportunely, for our company, we have more resources than Non-Profit Organizations and the more capable then other real estate office. We serve our client’s best interest and do not mislead the clients with creating false hopes. In addition, one particular advantage T&A has been able to offer their resources and time to help those non-profit organization sponsor events. During those events, T&A’s purpose is to help potential clients be aware of their options, which in turns builds a stronger relationship with the community even if it means turning to other organizations.
The second market force is the bargaining power of buyers. Unfortunately, many buyers or clients have the advantage in the industry. Since there are numerous options or other firms they can consider and generally price is a huge factor especially in Foreclosure Defense. If clients can no longer afford their mortgage, in which scenario will clients feel compelled to hire an attorney they cannot afford? Fortunately, Tucker & Associates, PLLC offers affordable payment plans and in most cases do not charge an hourly rate (unless extra services is performed and excluded from scope of work in the contract). They also offer significant value to their clients, by delivering great customer service, outstanding duty of care, and exceeding the...

Find Another Essay On Michael Porter’s Five Forces Applied to Tucker & Associates, PLLC

Definition and limitations of SWOT analysis, Porter’s five forces analysis and Ratio analysis

1275 words - 6 pages Definition and limitations of SWOT analysis, Porter’s five forces analysis and Ratio analysis SWOT Analysis All companies need certain strategy analysing tools to assess their ability or inability to do something. To be more precise, SWOT is an acronym, where S means Strengths, W means Weaknesses, O means Opportunities and T means Threats (Management study guide, 2009). This model

Sears Holdings Corp. (SHLD) SWOT Analysis, Porter’s Five Forces Analysis and Recommendations

3099 words - 12 pages companies who can increase traffic into the store. Threats One threat to SHLD is its competition with many retailers because it is not very differentiated from its competitors and lacks brand loyalty, thus nothing is stopping the customer from overlooking Sears and visiting a rival retailer. Another threat is a downturn in the economy which could wreck havoc on SHLD’s financial position. Porter’s Five Forces Analysis Threat of new entrants

Product Green Renovations: Company Offers and Michael Porter’s Five Force Analysis

605 words - 3 pages . Physical Evidence- Physical Evidence in the venture would include the various catalogues, the website, pamphlets, the end result of the renovation, the different tools used in the process. Michael Porter’s Five Force Analysis Supplier power- In this sector there are few number of suppliers, which have low ability to substitute our services. Hence, we are more or less price makers, but keeping the potential demand in mind while setting the

Use Michael Porter's five forces model to analyse the business environment in which your organization operates: Victor Chids

1691 words - 7 pages IntroductionAll organizations have got a set of forces and conditions outside their own boundaries that have the potential to affect the way the organization works. MoreMoney Banking Corporation Limited is no exception to this as it has got forces that it has to operate within. Michael Porter came up with the Five Forces Model commonly known as Porters' Five Forces Model which is used for analyzing an industry by looking at five forces believed

Choose the airlines as an industry to apply the Michael Porter's 'five forces' model and discuss how one established airline like SIA should respond to the competitive environment

2109 words - 8 pages QUESTION:The industry analysis is necessary in the strategic marketing planning in order to identify the opportunities and threats in the competitive environment. Choose the airlines as an industry to apply the Michael Porter's 'five forces' model and discuss how one established airline like SIA should respond to the competitive environment, after analyzing the industry.SIA is internationally recognised as one of the world's leading carriers

The Five Forces Model of Evaluating Business Segments by Michael Porter

1411 words - 6 pages Porter’s model and how information systems help in the five force process. These forces are buyer power, supplier power, threat of substitute products or services, threat of new entrants and rivalry among existing competitors. The concept of these forces is that they influence how managers make the big decision to enter into a new market. If the forces show that the situation is too negative then the company might make a good decision and not

Porter’s Five Forces on the Weight Loss Industry

1116 words - 5 pages There are not a lot of requirements to create and market a diet plan. Many turn into fads and there are even websites that have compiled these fads for potential dieters to browse and try for themselves (, 2013). The Academy of Nutrition and Dietetics advises to steer clear of fad diets. They define a fad diet as any that claim one or more of the following: rapid weight loss, extreme quantities and/or limitation, very specific food

Adidas Case Study: SWOT analysis and Michael Porter's Five Forces Model, including strategic recommendations

2515 words - 10 pages . These sports have been replaced in market share by sports such as baseball, basketball, football, and fitness activities like aerobics. Adidas has not developed the marketing mix to compete in these sports and fitness activities. The participation by women in these sports is growing, yet Adidas has neglected this market by remaining a preferred supplier of sporting equipment to the middle aged male population.Nike and Reebok are two very

The SARA Problem Solving Model Applied Criminology Associates (ACA). (2002). Introduction to Partnership Problem Solving; Problem Solving Workbook

1959 words - 8 pages group is more open to different ideas that may come to the table. It is important to recognize that the SARA model is not about quick fixes, but rather long term goals with long term effectiveness. (Applied Criminology Associates [ACA], 2002) It can be cyclical when a goal is not achieved on the first time around. The model is provides a framework for community and police problem solving as well as for oversight agencies to evaluate the

How useful is Porter's Five Forces approach to understanding the new entrants into the router market in the late 1990's?

938 words - 4 pages serious threat to Cisco by the year 2000.The backdrop to the emergence of these new competitors was the rapid expansion of the internet and a corresponding escalation in demand for high performance routers. The new entrants had concluded that "a high performance segment within the IP router market would emerge with Cisco or without it."This paper examines the usefulness of Porter's Five Forces approach in understanding the new entrants into the

Using Porter's five forces to analyse Telstra Australia

808 words - 3 pages Business StructureTelstra is Australia's leading fully integrated telecommunications and information services company. Telstra's organizational structure consists of Telstra Retail, Telstra Mobile, Telstra Country Wide, Telstra Wholesale, Telstra International infrastructure Services and Network and Technology Group. They offer a range of services from landline telephony, to complex mobile services, to high speed broadband. As required by the

Similar Essays

Michael Porter’s Five Forces Essay

2001 words - 8 pages Porter’s 5-Force Analysis Michael Porter’s 5-forces can be used to analyze an industry and help shape and create a “competitive strategy” (Porter, 6). Understanding each of the five forces and how they interact with one another provides a clear picture of the degree of competition being faced within an industry, and therefore its relative attractiveness. The understanding cannot provide an advantage; it is what you do with the

Analysis Of Audible.Com Using Porter’s Five Forces

1567 words - 6 pages music device. The firm uses its Audible manager software in downloading, scheduling, managing and playing audio selections. The manager software also allows customers to listen and download spoken content and transfer to Audible Ready players. The firm is the exclusive provider of digital content. This essay analyzes Porter’s five forces assist to evaluate where the firm’s power lie in a given market and the attractiveness of the

Application Of Porter’s Five Forces Model In The Bpm Industry

1908 words - 8 pages . • There were regulatory concerns against outsourcing. • Sentiments of nationalism. Xara Inc. preferred to opt the Porter’s Model to cope up with the boosting competition in the industry, other issues and challenges confronted by the company. They analysed the five forces and constructed a draft model for implementation. Summary of five competitive forces analysis is mentioned below: 5.1. Threat of New Entrants  Entry barriers: Low The resources

Michael E Porter Five Competitive Forces

1843 words - 7 pages of the Central American countries to develop and implement an economic strategy for that region, including the formation of the Latin American Centre for Competitiveness and Sustainable Development (CLACDS), a permanent institution based in Costa Rica.1.1Michael E Porter - Five Competitive ForcesThe five forces model developed by Michael E. Porter guides the analysis of organization's environment and the attractiveness of the industry. The five