Students are required to review a selection of Business Information Management Tools (usually, but not limited to, software programs), identified through a simple web-search or other means. Two to...

BUSINESS INFORMATION MANAGEMENT TOOLS
Table of Contents
Introduction    3
Porter’s Five Forces    3
Usage    3
Features    3
Limitations    4
HubSpot CRM    4
Usage    4
Features    4
Limitations    4
ADKAR Analysis    5
Usage    5
Features    5
Limitations    5
Evaluation and Conclusion    6
References    7
Introduction
This paper is about reviewing the business management tool that helps organisations to keep track about their strategic planning, customer relations management, market segmentation, managing the quality, change management, balancing scorecards, outsourcing, employee engagement, benchmarking and many more activities (Xucla Poems, 2021). Hence, the three tools, which have been chosen, are Porter’s five forces, HubSpot CRM and ADKAR analysis.
Porter’s Five Forces
Usage
Porter’s Five Forces is a tool used for strategic planning in a business. It helps in assessing and identifying all the economics forces that could affect the industry. It also evaluates the business competitive position in the industry (Bruijl, 2018).
Features
The fundamental feature of this model is that it depicts the economic factors that determine an industry's profitability potential, attractiveness and competitive intensity. The five factors include
· Industry Competitiveness: When there is a lot of rivalry in a business, it is more difficult to generate a profit. In competitive sectors, customers generally wield greater influence than providers do. This generally leads to suppliers undercutting one other's pricing until their income barely covers their costs.
· The Threat of New Entrants: If new entrants can join your market swiftly and cheaply, they can eat into the share of the market of incumbent companies. The frequency, with which new competitors enter your market, is determined by the barriers to entry in your business (Perera, 2020).
· Supplier Power: The Company’s capacity to manage prices is directly affected by the number of suppliers or rivals in a market. Since there are only a few providers in a sector, each provider has tremendous pricing power however if a consumer does not accept that rates, suppliers may quickly find someone who will.
· Customer Power: The quantity of consumers in a sector has a direct impact on their capacity to regulate pricing. If there are only a few customers, they have the majority of the power. If there are many customers, providers must comply with their customers' requests or risk losing income (Perera, 2020).
· The Danger of Alternative Products: Business must compete with other items if one’s product offers a cheaper or superior equivalent. Because of the intense multi-market rivalry,...