Environment%20Analysis%20tips%20-%20slides%20from%2010-10

Environment%20Analysis%20tips%20-%20slides%20from%2010-10 -...

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Outcomes from 1A: Identify the major drivers of change and the key survival factors. Be sure to a) justify why each factor listed is important, and b) be clear about the implications to competition that arise from each factor. Note that this is not just a recitation of 5 forces and PEST. Need to sift through analysis to identify most important factors and JUSTIFY WHY THEY ARE MOST IMPORTANT e.g., because there are a number of competitors and buyers can switch with little if any cost, finding a way to differentiate products without adding significant cost is an important KSF e.g., ongoing, rapid changes in technology and accompanying changes in social habits mean that innovation is a major driver of change in this industry. Teams are often weak on implications for competition: Not enough to say that substitutes are important - Need to address their impact on competitive behavior E.g., because of pressure from substitutes, firms need to keep prices (and costs) low (or differentiate to justify higher prices, or address a niche market unlikely to substitute, etc.)
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