Porter’s Five Forces – An case of Brighthouse Financial, Inc

Topic 

Porter’s Five Forces – An case of Brighthouse Financial, Inc

Instruction 

Guidelines for the paper:

  1. Provide a brief introduction to your assigned company (e.g. what is its business, in what market is it, how long has it been in business, etc.)
  2. Apply each of Porter’s five forces to your assigned company, indicating the threat level (e.g. high, moderate or low), why you have made this assessment.
  • Do NOT make recommendations for addressing these threats; only provide your assessment of the threats.
  1. Discuss one or more ethical considerations that are faced by either your assigned company or the market in which they operate.
  2. Include a graphic of the Five Forces model that provides a bulleted synopsis of your assessment for each of the five forces.

Criteria for the paper:

  1. Minimum of four (4) pages, to maximum (5) five pages (not including Porter Model illustration, title page, or reference page and any additional appendices).
  2. APA style and formatting required. However, no abstract is required for this paper
  • Include a 1-page Porter model illustrating your analysis

Reference page and title page

Answer Preview 

The size and nature of competition affects the competitiveness of a business. High competition from large firms implies a disadvantage to an individual firm because of the ensuing price wars and capacity to sustain the competition (Porter 2008). Competition in the general and life insurance in the United States is stiff. According to Statista (2020), there were 773 life insurance firms in the country in 2018, down from a high of 2,195 in 1990. The fall in the number of insurers was attributed to a poor performance in the general economy that led to the inability of players to cover risk and clients to pay premiums. According to Bloomberg (2020) however, the direct competitors for Brighthouse Financial Inc. were ten including National Western Life Group, Sirius International Insurance Group, FBL Insurance Group and Genworth Financial Inc. others were American Equity Investment Life Holding, FGL Holdings, CNO Financial Group and Enstar Group. Primerica Inc. and Unum Group brought up the rear. The firm placed Birghthouse at third position among the peers after National Western and Unum Group in terms of revenue. Income considerations paled the position of Brighthouse, placing it at eight position.

Word Count: 1300