Strategic Tools for the New Economy
Faculty of Business and Public Management
School of Business
Is it necessary to develop new strategic tools for Internet business? Rather than developing new tools for the new economy, it may be more useful to adapt an existing, tested tool to the new business environment. This paper discovers several constraints on the use of strategic tools: There are new factors within the new economy; the environment is changing and uncertain; A strategic tool provides a basis for strategy, not the strategy itself. Within those constraints, Porter's Five Forces model will be as useful in the new economy as it was in the old.