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28 Cards in this Set
- Front
- Back
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What are the three types of external Environments?
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General
Specific (Industry and competitor) |
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A set of factors directly influencing
* A firm's competitive actions/responses *Relates to Porter's 5 Forces |
Industry Environment
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Gives details about:
*A firm's direct and indirect competitors *The competitive dynamics expected to impact a firm's efforts to generate above average returns |
Competitor Environment
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What 4 Thing must a firm do to conduct an environmental analysis?
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Scanning, Monitoring, Forecasting, Assessing
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Looking into all environmental segments
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Scanning
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Looking into a specific segment
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Monitoring
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Making feasible projections
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Forecasting
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Determining timing and significance of effect/impact
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Assessing
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General environment condition that, if exploited, helps a company achieve strategic competitiveness.
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Opportunity
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General environment condition that may hinder a company's efforts to achieve strategic competitiveness.
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Threat
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Looking into a specific segment
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Monitoring
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Making feasible projections
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Forecasting
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Determining timing and significance of effect/impact
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Assessing
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General environment condition that, if exploited, helps a company achieve strategic competitiveness.
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Opportunity
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General environment condition that may hinder a company's efforts to achieve strategic competitiveness.
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Threat
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Groups of firms producing products that are close substitutes
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Industry
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Industry environment has a more direct effect of firm's ___ and ___
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Strategic competitiveness and Above Average Returns
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What are porters five forces?
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Threat of new entrants
Bargaining Power of Suppliers Bargaining Power of Buyers Threat of substitute products Rivalry Among Competing Firms |
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PORTERS 5 FORCES
-Can threaten share of existing competitors -may bring additional production capacity Function of two factors: Barriers to entry (economies of scale, product differentiation, capital requirements, switching costs, access to distribution channels, cost disadvantageous independent of scale, gov policy) and Expected Retaliation |
Threat of New Entrants
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PORTERS FIVE FORCES
(More powerful when) 1. Few companies and more concentrated than the industry to which they sell 2.No substitutes for the suppliers products 3. Industry firms not significant customer to supplier group 4. Suppliers goods are critical to buyer's success 5. High switching costs due to effectiveness of supplier's products 6. Threat of new entrants |
Bargaining Power of Suppliers
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PORTERS FIVE FORCES
(More Powerful When) 1. Purchases large portion of industry's total output 2. Product sales accounts for significant seller annual revenue 3. Low switching costs (to other industry products) 4. Industry products are undifferentiated or standardized and threat of backward integration |
Bargaining Power of Buyers
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PORTERS FIVE FORCES
Goods or Services outside of given industry perform same or similar functions (i.e Sugar vs. Sugar substitute) |
Threat of Substitute Products
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PORTERS FIVE FORCES
*Numerous or equally balanced competitors *Slow Industry Growth *High Fixed Costs or high storage costs *Lack of differentiation or low switching costs *High strategic stakes *High exit barriers |
Intensity of Rivalry Among Competitors
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COMPETITOR ANALYSIS
What drives Competition Shown in _______ |
Future objectives
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COMPETITOR ANALYSIS
What the competitor IS DOING and CAN DO Shown in ________ |
Current Strategy
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COMPETITOR ANALYSIS
What the competitor believes about the industry Shown in ______ |
Organization's assumptions
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COMPETITOR ANALYSIS
What the competitors capabilities are Show by ______ |
Organization's strengths and weaknesses
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Set of data and information the firm gathers to better understand and anticipate competitors' objectives, strategies, assumptions, and capabilities
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Competitor intelligence
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