rUniversity of Phoenix –Porter’s Model of ChevronLindsey Sinclare – MGT 576Industry ForceStrengthProvide a sentence justifying your determinationwith examplesHighMediumLowThreat of new entrantsXThe threat of new entrants is very low.There are manyreasons for this, including high barriers to enter theindustry. The corporation does not worry about newentrants due to the high level of barriers of entry (Taha,2018). For example, an organization willing to enter theoil and gas industry must follow the strict rules putforth by the government. If they fail to do so, they willstruggle in their persute, risking any chance to enter themarket.Also, the distribution network for new entrantsrequires strong connections, and according to Umar(2019), weak distribution means the products areexpensive to move.Power of buyersXBargaining power of the Chevron consumers is low.The government controls the prices which in turnmeans fixed prices do not allow the consumer to havemany options. According to Chowdhury (2014),Chevron has maintained a strong base of customers,which allows them to diversify their profits and reducerisk. As a consumer, we have many options out there,
