Crafting and Executing Strategy
22nd Edition
ISBN: 9781260157475
Author: Thompson
Publisher: MCG
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Chapter 3, Problem 3LO
Summary Introduction
To discuss: Mapping the market situations of important groups of industry rivals.
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1- Describe the different stages of industry development.
2- What is competitive advantage? How can a company build its competitive advantage?
1. Explain the forces that shape competition in an industry.
2. Select an industry example to illustrate each force.
assume any industry of your own choice
The differences in the performance of various firms within an industry limit the usefulness of industry analysis. Discuss.
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- Define and discuss each of Porter's five forces of industry competition. How do these forces affect an industry's profit potential? Explain.arrow_forwardThe selected Industry here is the retail industry. (ALDI) Conduct research to find articles or academic sources that explain the competitive forces driving your selected industry. List and explain at least 3 competitive forces, including global forces if applicable. Additionally, select a specific corporation (ALDI) within your chosen industry and explain whether the competitive forces you identified for the industry apply specifically to your chosen corporation. Be sure to post at least 2 references in support of your explanations and conclusions.arrow_forwardSelect an industry and consider how the life cycle of the industry has affected the company's business strategy in that industry over time. In your answer, address each phase: introduction, growth, shakeout, maturity, and decline.arrow_forward
- What kinds of changes in the competitive environment occur when an industry begins to mature? Identify three strategic approaches that are well-suited for this type of industry environment.arrow_forwardExplain the four market-product strategies in diversification analysis.arrow_forwardWhat are the four basic practice "that really work" that characterize industry-leading firms?arrow_forward
- Provide brief complete analysis of different levels of diversification that a firm can pursue by using different corporate-level strategies. What are the three reasons firms choose to diversify their operations? Give industry examplesarrow_forwardDiscuss the common barriers to entry of a firm into the new market?arrow_forwardBusiness Strategic Management How do the five forces of competition in an industry affect its profitability potential?arrow_forward
- Choose an industry and a firm within that industry (which can be real or imaginary, but should not be one of the examples from the industry life cycle stages discussion in the PPTs). Using our explanation of what happens in each of the industry life cycle stages, describe one specific thing the firm would need to do to avoid going out of business during the “shakeout” stage and one thing the firm should do after that stage but not before it.arrow_forwarddefensive diversification explanationarrow_forwardIn brief short answers less than 200 words, answer the following: 3. Industry Roles: Pick an industry. Classify firms according to the four different roles they might play leader, challenger, follower, and nicher. How would you characterize the nature of competition? Do the firms follow the principles?arrow_forward
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