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5 Forces/Prized Essay

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Below is an essay on "5 Forces/Prized" from Anti Essays, your source for research papers, essays, and term paper examples.

The Film Prized viewed in class is a great example of how the 5 forces can be identified and broken down in a beginning to eventual mature birth of a new era. In particular to this situation we were able to see just how able these 5 forces were viewed before John Rockefeller entered the industry to change the entire oil game and then once again how his impact on the industry would change the face of these forces.
The first force being broken down is the threat of new entrants into the oil industry. Before the presence of Rockefeller, the oil rush was similar to former gold rushes. At first when the discovery of pump-able oil was discovered almost everyone who was able to in the Pennsylvania area turned their properties into mini cash cow oil pumping stations. The threats were somewhat minimal and the profits were good, people had more to gain than there was to lose with no early dominance in the oil industry. The only threat was how peoples oil pumping stations were literally on top of each other meaning the same oil sources were being utilized, there fore who ever sucked it all up first owned it and could turn a profit on it. Once Rockefeller made his mark on the scene things would never be the same, there was almost not point in attempting entering the oil industry. He made distribution channeling almost impossible for any other competition, using somewhat genius yet unethical techniques, the already attractive market even more attractive.
The threats to substitutes in the oil industry pre John D. Rockefeller were somewhat small. Considering the idea if an automobile were stills somewhat in the future, the current uses of the petroleum oil at the time were mainly for lamps and now that oil was readily and easily available this was the main use for it. The only good substitutes for these lamps petroleum oil, was whale oil and due to the high prices of the oil people for the most part took to using pumped petroleum oil. Then when Rockefeller entered and made...

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