EXTERNAL ENViRONMENT ANALYSiS

This entry is about the chapter 3 for Strategic Management subject:)  

What the DEFINITION of macro-environment? MICRO-ENVIRONMENT encompasses the broad environmental context in which a company's industry is situated that includes strategically relevant components over which the firm has no direct control.

FIVE COMPETITIVE FORCES

1) competition from rivals seller

2) competition from potential new entrant

3) competition from producers of substitute products

4) supplier bargaining power

5) customer bargaining power

DRIVING FORCE ANALYSIS

step 1: identifying what the driving forces are.

step 2: assessing whether the driving forces are, on the whole acting to make the industry more or less attractive.

step 3: determining what the strategy changes are needed to prepare for the impact of the driving forces.

then...

the meaning of STRATEGIC GROUP and STRATEGIC GROUP MAPPING

 

strategic group means a cluster of industry rivals that have similar competitive approaches and market positions.

strategic group mapping is a technique for displaying the different market or competitive positions that rival firms occupy in the industry.

KEY SUCCESS FACTORS means the strategy elements, product and service attributes, operational approaches, resources and competitive capabilities that are essential to surviving and thriving in the industry.

i hope this summary can make me understand more about this chapter..huhu.i think that's all from me..

see u soon..XOXO! :D