Market Influencers – Five Forces that Shape the Language Services Industry

Market Influencers are the five forces that shape and mold the language services industry.

By definition, the Market Influencers are largely outside of the control of any individual language service provider. It is not your job to control or tame these market forces, but it is your job to observe and analyze them because analysis is critical to the success of the LSP.

Studying and evaluating the Market Influencers is like reading the tide chart and checking the weather report before you set sail. You may be one of the best sailors in the world, with the sturdiest boat ever built, but it is still important to make sure you know which way the current is flowing.

The Market Influencer evaluation is largely an intellectual step. There are no decisions or actions required, just evaluation. Just like with any analysis, it is only useful to the extent that it allows you to make decisions and act.

It gives you the information you need to start defining how your LSP is going to be structured, which will manifest in the setup and maintenance of the senior management and other Support Activities.

For more on Market Influencers and industry forces leading to risk and opportunity, see our book The General Theory of the Translation Company.

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