Identify and describe the three major parts of the external environment. •
Explain why it is important to study and understand the external environment. •
Describe and discuss the four activities of the external environmental analysis process. •
Identify and describe the six segments of the general environment. •
Describe the expected changes that will occur with the ethnic mix of the United States work force and their potential effect on the strategic posture of the firm. •
Identify the five competitive forces and explain how they determine industry profit potential. •
Describe the factors that raise the competitive nature of an industry’s rivalry. •
What are high exit barriers and how do they affect the competition within an industry? •
What do firms need to know about their competitors and what intelligence-gathering techniques can be used to obtain this information?
Describe the importance of internal analysis to the strategic success of the firm. •
Describe the various types of resources.
Define capabilities and how they affect the firm’s strategic success. •
Describe the four specific criteria that managers can use to decide which of their firm’s capabilities have the potential to create a sustainable competitive advantage. •
Describe a value chain analysis.
Why is it important to prevent core competencies from becoming core rigidities?
Define strategy and business-level strategy.
In analyzing a firm’s customers, discuss the classic three questions a firm must answer and the various characteristics of each. •
Discuss how a cost leadership strategy can allow a firm to earn above-average returns in spite of strong competitive forces. •
Describe a cost leadership strategy and its risks.
Describe the risks of a differentiation strategy.
Describe a focus strategy and its additional risks.
Describe the advantages of integrating cost leadership and differentiation strategies. •
What are the risks of an...
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