Chapter 4_MGT422_SP11 (2)

G the logic behind the operations business of the

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Unformatted text preview: firm)—Porter’s Value Chain, Porter’s Generic Strategies, Business of Porter’s Model Components Model How you get your raw materials and where you store them How you physically manufacture the product How your store or warehouse finished products How you physically distribute/ship finished products to customers How you execute sales of your product (e.g., sales force, internet sales, etc.) How you help customers after you execute the sale (e.g., returns, warranty, technical How support, etc.) support, How you handle research and development (if applicable) How you handle accounting, legal, and financial management issues Part 5: Description of the Industry & Competition (1 of 2) Part Discuss important characteristics of the industry (e.g., size, growth rates, etc.) Discuss characteristics Discuss major trends in the industry (e.g., sociocultural, technological, Discuss trends political/legal, economic)—forces/trends in the external environment political/legal, forces/trends Discuss how the firm will address factors impacting the industry’s profitability Discuss factors —Porter’s Five Forces: How much power do raw material suppliers have over firms in the industry? Can they force firms to pay high costs for their supplies? How much power do customers have over firms in the industry? Can they bargain down prices of firms’ products? How much competition there is in the industry and is competition intense? Are there may types of products that can serve the same purpose (e.g., cars, buses, Are bicycles, planes, rollerblades, etc. all serve the purpose of transportation) bicycles, Is it likely that many new firms will try to enter and compete within this industry? Part 5 (cont’d): Description of the Industry & Competition (2 of 2) Part Discuss In what stage of the lifecycle is the industry?—industry Discuss stage industry structures structures Is it...
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