Ch02MBA

Ch02MBA - The Strategic Management Process 1 Chapter 2: The...

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1 The Strategic Management Process
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2 Chapter 2: The External Environment: Opportunities, Threats, Industry Competition and Competitor Analysis Overview: The firm’s external environment External environmental analysis General environmental segments Industry environment (and analysis) Porter’s 5 Competitive Forces Strategic groups: Definition and influence Competitors and competitive intelligence
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3 External Environment Analysis 4 components Scanning – the study of all segments in the general environment Monitoring – observing environmental changes to see if an important trend is emerging Forecasting – the development of feasible projections of what might happen and how quickly as a result of the changes and trends detected Assessing – determining the timing and significance of the effects of environmental changes and trends on the firm
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4 External Environment Analysis Opportunity General environment condition that, if exploited effectively, helps a company achieve strategic competitiveness Threat General environment condition that may hinder a company's efforts to achieve strategic competitiveness
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5 The External Environment: General, Industry, and Competitor
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6 The General Environment The General Environment The broader society dimensions that influence an industry and the firms within it Grouped into 7 dimensions OR ‘ environmental segments’ Demographic – population’s size, age structure, geographic distribution, ethnic mix, and income distribution Economic – nature and direction of economy Political/Legal – laws and regulations Sociocultural – society’s attitudes and cultural values Technological – new technologies and firms that create them
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Ch02MBA - The Strategic Management Process 1 Chapter 2: The...

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