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Innovation at cirque du soleil - Essay Example
Pages 3 (753 words)
Innovation at Cirque du Soleil <Insert name> <Insert Grade Course> <Insert Insert Date Outline I. Introduction II. Potter’s five forces Analysis of External Environment III. PEST Analysis IV. Innovation at Cirque du Soleil Introduction Circus du Soleil is a company in the circus industry that boasts of being a dynamic and innovative place where dreams become reality and nearly anything becomes possible (Krippendorff, p…
This Circus has differentiated itself from its fellow circuses in that it added a touch of innovation in its entertainment services. Through this it managed to shift the traditional circus attendants from children to adults. This paper seeks to evaluate the external environment of Circus du Soleil by conducting a PEST and Porter’s 5 forces analysis of its circus industry. Potter’s five forces Analysis of External Environment This analysis tool is the most powerful tool of understanding where power really lies within the organization. A clear understanding of where power really lies in the organization enables an understanding of the current competitive position the company is in and the strength of the position it wants to move to. This approach assumes that five major forces that determine a businesses competitive power exist. In relation to the circus industry where Cirque du Soleil operates in, the following can be realized; the threat of new entry, power of suppliers, power of buyers, competitive rivalry, and the threat of substitutes. 1. Threat of entry There is a threat of new entry into the circus industry given the fact that Circus du Soleil has been performing well in the industry. ...
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