Firms within the same industry may be considered to be in different strategic groups. True False
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Firms within the same industry may be considered to be in different strategic groups.
True
False
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- What is a strategic group? How can studying such groups be useful in industry analysis? Explain why or why not?What is a strategic group? How can studying such groups be useful in industry analysis?What do strategic group members have in common with each other? What impact do firms outside a strategic group have on those in that group?
- How does industry analysis and companies evaluation help in evaluating the performance of strategic applied?How awareness of a hierarchy of strategic goals can help an organization achieve coherence in its strategic directionDescribe the Stages of the Strategy-Formulation Analytical Framework: The input stage, the matching stage and the decision stage
- Discuss, How can organizations effectively manage conflicting objectives and interests during the strategic planning process?Business Strategy is about managing uncertainty, opportunity, and enterprise. How does a firm evaluate its industry competitiveness in which it operates?An industry's key success factors A) can be determined from studying the "winning" strategies of the industry leaders and ruling out as potential key success factors the strategy elements of those firms considered to have "losing" strategies. B) depend on the relative competitive strengths of the industry leaders and how vulnerable they are to competitive attack. C) are a function of market share, entry barriers, economies of scale, degree of vertical integration, and industry profitability. D) can be determined through identifying an industry's dominant economic characteristics, assessing the five competitive forces, and considering the impacts of the driving forces. E) vary according to whether an industry has high or low long-term attractiveness.
- Identify the six forces that shape competition in an industry. Describe how changes in the strength of these forces affect prices, profitability, and under which circumstances each can be considered a threat or opportunity. Why is a competitive analysis using the competitive forces framework a benefit to industry?Explain how an organization can create a competitiveadvantage at the corporate strategy level and at thebusiness-unit strategy levelCreating a sustainable competitive advantage may be the most important goal of any organisation and may be the most important single attribute on which each business must prioritise. Explain the importance of managing information for sustaining competitive advantage.