TY - JOUR T1 - Is Porter's Five Forces Framework Still Relevant? A study of the capital/labour intensity continuum via mining and IT industries JF - Technology Innovation Management Review Y1 - 2020 A1 - Diane Isabelle A1 - Kevin Horak A1 - Sarah McKinnon A1 - Chiara Palumbo KW - internationalization KW - IT industry KW - mining industry KW - Porter's Five Forces framework KW - regulation AB - Porter's Five Forces (P5F) framework, published in 1979, helps us to understand the attractiveness of an industry. The five competitive forces are: the threat of new entrants, the bargaining power of buyers, the bargaining power of suppliers, the threat of substitute products of services, and the rivalry among existing competitors. This framework has recently come under scrutiny and been called into question. To contribute to the debate, this paper investigates the relevance of Porter's framework by contrasting vastly different industries. The use cases consist of a resource-based, capital-intensive industry, the mining industry, and a knowledge-based, labor-intensive industry, the information technology industry. Drawing from research on Porter's Five Forces framework, and through an internationalization lens, the paper proposes a modified framework augmented with four additional forces. These additional forces are: the competitor's level of innovativeness, exposure to globalization, threat of digitalization, and industry exposure to de/regulation activities. These forces were added to capture the increased interconnectivity and complexity of businesses operating in the 21st century. The paper contributes to this body of knowledge by augmenting a popular framework and applying it to vital industrial sectors. The findings aim to incite researchers, managers, entrepreneurs and policymakers to go beyond the traditional five forces as a way to help monitor their business environment and enhance decision-making processes, particularly in a post-COVID-19 world. PB - Talent First Network CY - Ottawa VL - 10 UR - timreview.ca/article/1366 IS - 6 U1 - Carleton University Dr. Isabelle is an Associate Professor of International Business. Her research focuses broadly on the areas of science, innovation and techno-entrepreneurship within a global context. Specifically, her research is organized around the following three inter-related themes: 1) International entrepreneurship & ecosystems, 2) Internationalization (International New Ventures and SMEs), 3) Global collaborative research and Science, Technology and Innovation policy. In addition to these themes, she is researching and publishing on Technology-integrated and international interdisciplinary experiential learning in higher education. Prior to joining Sprott in 2011, Dr. Isabelle worked in several senior executive roles related to science, technology and industrial research (Industrial Research Assistance Program - IRAP) at the National Research Council of Canada (NRC), the Government of Canada’s premier research and technology organization. She started her career as a project engineer for several multinational firms, including General Electric, Esso and Boeing Aerospace. U2 - Carleton University Graduate Kevin Horak, B. International Business, Carleton University, is a supply chain planner at Martin-Brower of Canada Co. Fluent in Spanish, he spent a year abroad studying commerce and economics at the Universidad de Chile (Santiago). U3 - Carleton University Graduate Sarah McKinnon, B. International Business, Carleton University, is an Associate with Tailwind Associates, a Calgary-based firm dedicated to launching innovative entrepreneurs. She is inspired by the work ethic and tenacity of the entrepreneurial spirit and supports preparing small businesses for growth and investment. Previously, she worked at Sampford Advisors, a firm facilitating mergers and acquisitions for mid-market Canadian technology companies. U4 - Carleton University Graduate Chiara Palumbo is currently pursuing a Master of Science in Finance degree from Bocconi University, while working as Real Estate Investment Analyst for Italian company Generali Real Estate. She holds a Bachelor of Commerce (Finance) degree from Carleton University. Her past work experience includes investment banking at Lazard & Co. in Debt Capital Markets and equity research for the Sprott Student Investment Fund. ER -