Download Strategic Management Competitiveness and Globalization, Concepts and Cases Available Titles
Strategic Management: Concepts: Competitiveness and Globalization
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Define and describe the general environment and the industry environment. Discuss the four parts of the external environmental analysis process. Define strategic groups and describe their influence on firms. Describe what firms need to know about their competitors and different methods including ethical standards used to collect intelligence about them. The case provides a vehicle for discussing how the environment affects both corporate-level strategy and business-level strategy.
The external environment facing business stays relatively constant over time. Firms can directly control the elements of the seven segments of the general environment. The bankruptcy filings by General Motors and Chrysler Corporation during the Great Recession illustrate that firms cannot directly control the general environment's segments. Competitor analysis is focused on the factors and conditions influencing an industry's profitability. The industry environment directly influences a firm and its competitive actions and responses. When firms analyze the external environment, they typically have complete and unambiguous data. Monitoring involves the development of a forecast of what might happen at a future point in time.