Myra Haircut Case Study
This analysis is to assist Myra in her management of Haircuts. This analysis will use Porter's Five Forces as a model to understand the business environment and determine where the most effort needs to be applied. This work will also present a general strategy that will be applied to the most pressing area in need of improvement
Five Forces Analysis
Bargaining Power of Suppliers: This force is not heavily relevant in this case study as Myra's suppliers are not deeply involved in her problems. This should have little impact on her strategy.
Bargaining Power of Customers: Since Myra is having trouble matching customers with their preferred stylist, this power has deep and profound impact on the future of her business and should be included in her strategic outlook.
Threat of New Entrants; There appears to be many new threats in her locality offering similar products. This is a serious threat to her business and requires that she understands how this force can affect her business.
Threat of Substitute Products: Hair styling is a commodity, but manicuring and other products can be incorporated into this industry. This threat is not significant.
Competition within the Industry: The competition is heating up and Myra needs to understand that this is her greatest threat to the well being of her operations.
Generic Strategy
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