Q. Porter 2001 wrote: "The internet then is often ..in many cases it actually makes those sources even more important." Discuss this statement on the banking sector

Porter's (2001) statement from his article Strategy and the Internet summarises his discussion on the relative advantages of the Internet and how these are worthless without a strategic approach. He uses his own five forces analysis to analyse the "underlying forces of competition", this analysis is necessary to "illuminate" areas of potential profitability. Applying this framework to the banking industry uncovers interesting revelations. The threat of substitutes in the banking industry is high in that switching …

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