EVALUATING A COMPANY’S EXTERNAL ENVIRONMENT
Industry in the present age differ significantly on
factors such as market size and growth rates compared to the previous, either in
terms of geographic scope, lifecycle stage, the number and size of sellers,
industry capacity, and other conditions that reflect a balance of demand-supply
industry and the opportunities for growth. Identify the basic characteristics
of the industry and potential economic growth sets the stage for the analysis to
come, as they play an important role in determining the potential of the
industry as an attractive profit.
By learning just
learned about strategic
steps that need to be made
to rival the
future is where each competitor
well enough to anticipate their actions can help
companies provide effective countermoves (maybe even beat the competition to
the punch) and allows managers to
take action potential
rivals' about in
designing their own best course of action.
Managers who fail to study the risk of competitors
caught ready to
step strategic competitors.
Clear, insightful diagnosis of a company's external
situation is an essential first step in crafting strategies that are well
matched to industry and competitive conditions. To do cutting-edge strategic
thinking about the external environment, managers must know what questions to
pose and what analytical tools to use in answering these questions. This is why
this chapter has concentrated on suggesting the right questions to ask,
explaining concepts and analytical approaches, and indicating the kinds of
things to look for.
That all for my part, thank you.
Assalamualaikum..
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