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Industry Diagnostics

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The Industry Diagnostics method uses Michael Porter’s Five Forces Framework to better understand one’s industry and discover opportunities for innovation early on.

Once you have identified the key aspects of the industry, you can see the current health of the industry through them. Whenever weaknesses have developed in an industry over time, the opportunity for new concepts to penetrate is great.

The five forces analyzed here are:
– The threat of potential market entry by new competitors
– The threat of substitution by other products and services
– The power of customers and users of the products
– The power of suppliers in their own industry
– The intensity of competition between competitors

The extended version of Porter’s Five Forces are the Six Forces, which additionally include the complementors of an industry into the system.

Registered users will find a detailed description of the use of the method in a meeting or workshop context in the next section. Registration is free of charge.

In addition to this description, you will find complete instructions on how to use the method in a team meeting or workshop in the Innovation Wiki. All you need to do is register free of charge and you will have access to this and more than 700 other methods and tools.

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