Ch3LearnObj - Explain in some detail Figure 3.3 Make sure...

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MGMT4890 There are lots of lists in this chapter. I do not expect you to memorize them but I do expect you to be familiar with them. I will explain this further in class. Chapter 3 – Evaluating a Company’s External Environment Learning Objectives: Where does the content of this chapter fit into the strategic management process? What is a company’s macroenvironment and what does it include? What are the 7 questions of industry and competitive analysis and what are the implications of answering these questions? Why is looking at the dominant economic features of an industry a good starting point for an external analysis? What are vertical integration, product differentiation, scope of competitive rivalry, economies of scale, and learning curve effects? Identify and describe the 5 competitive forces that are at play in every industry?
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Unformatted text preview: Explain in some detail Figure 3.3. Make sure you understand the list of factors describing when each of the 5 competitive forces tends to be stronger or weaker. What are barriers to entry? What is a substitute product? What are the strategic implications of the 5 competitive forces? What are driving forces and why is it important to identify them? Make sure you understand how each of the items listed in the chapter can serve as driving forces. What is a strategic group and what is strategic group mapping? What can be learned from strategic group mapping? Why is it important to monitor the strategies of your competitors? What are key success factors and why is it important to identify them? Why is it important to determine the attractiveness of an industry and what makes an industry attractive or unattractive?...
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