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Ch2 - The Management of Strategy(Concepts and Cases Part I...

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1 The Management of Strategy (Concepts and Cases) Part I: Strategic Management Inputs Chapter 2: Exploring the External Environment: Competition and Opportunities
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2 The Strategic Management Process
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3 Chapter 2: Exploring the External Environment: Competition and Opportunities Overview: Seven content areas The firm’s external environment General and industry environment External environment analysis process activities (N=4) General environmental segments (N=6) Porter’s 5 Competitive Forces Strategic groups: Definition and influence Competitors and intelligence collection methods
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4 Environmental Pressures: Wal-Mart (WM) Emerged from a small-town in Arkansas, USA Slogan: EVERYDAY LOW PRICES Based on cost leadership strategy Since 2005 growth formula not as effective In 2006, U.S. division saw 1.9% gain in same-store sales – worst performance ever WHY? COMPETITION (Target, Costco, Kroger, Safeway): growing 2 – 5 times faster than WM WM plagued by many problems including (but not limited to) employee-related, environmentalists and external gov’t/political entities
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5 Chapter 2: Exploring the External Environment: Competition and Opportunities Overview: Seven content areas The firm’s external environment General and industry environment External environment analysis process activities (N=4) General environmental segments (N=6) Porter’s 5 Competitive Forces Strategic groups: Definition and influence Competitors and intelligence collection methods
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6 External Environment: General, Industry and Competitor Three External Environments include: General Industry Competitor
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7 External Environment: General, Industry and Competitor (Cont’d) The General Environment The broader society dimensions that influence an industry and the firms within it Grouped into 6 dimensions OR ‘ environmental segments’ Each segment composed of elements
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8 The External Environment
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9 External Environment: General, Industry and Competitor (Cont’d) Industry Environment Set of factors directly influencing A firm’s competitive actions/responses Relates to Porter’s 5 Forces – see upcoming slides Competitor analysis: gather and interpret competitor
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