tailieunhanh - Lecture Crafting and executing strategy: Chapter 3 - Thompson, Peteraf, Gamble, Strickland

Chapter 3 - Evaluating a company’s external environment. The goals of this chapter are: Become aware of factors in a company’s broad macro-environment that may have strategic significance, gain command of the basic concepts and analytical tools widely used to diagnose the competitive conditions in a company’s industry, become adept at mapping the market positions of key groups of industry rivals. | CHAPTER 3 EVALUATING A COMPANY’S EXTERNAL ENVIRONMENT STUDENT VERSION QUESTION 1: WHAT ARE THE STRATEGICALLY RELEVANT FACTORS IN THE MACRO-ENVIRONMENT? PESTEL Analysis Focuses on principal components of strategic significance in the macro-environment: Political factors Economic conditions (local to worldwide) Sociocultural forces Technological factors Environmental factors (the natural environment) Legal/regulatory conditions THINKING STRATEGICALLY ABOUT A COMPANY’S INDUSTRY AND COMPETITIVE ENVIRONMENT How strong are the industry’s competitive forces? What are the driving forces in the industry, and what impact will they have on competitive intensity and industry profitability? What market positions do industry rivals occupy—who is strongly positioned and who is not? What strategic moves are rivals likely to make next? What are the industry’s key success factors? Is the industry outlook conducive to good profitability? 3–3 QUESTION 2: HOW STRONG ARE THE INDUSTRY’S COMPETITIVE FORCES? The Five Competitive Forces: Competition from rival sellers Competition from potential new entrants Competition from producers of substitute products Supplier bargaining power Customer bargaining power 3–4 USING THE FIVE-FORCES MODEL OF COMPETITION Step 1 For each of the five forces, identify the different parties involved, and the specific factors that bring about competitive pressures. Step 2 Evaluate how strong the pressures stemming from each of the five forces are (strong, moderate, or weak). Step 3 Determine whether the collective strength of all five competitive forces is conducive to earning attractive profits in the industry. 3–5 COMPETITIVE PRESSURES ASSOCIATED WITH THE THREAT OF NEW ENTRANTS Entry Threat Considerations: Expected defensive reactions of incumbent firms Strength of barriers to entry Attractiveness of a particular market’s growth in demand and profit potential Capabilities and resources of potential entrants Entry of existing competitors into market segments | CHAPTER 3 EVALUATING A COMPANY’S EXTERNAL ENVIRONMENT STUDENT VERSION QUESTION 1: WHAT ARE THE STRATEGICALLY RELEVANT FACTORS IN THE MACRO-ENVIRONMENT? PESTEL Analysis Focuses on principal components of strategic significance in the macro-environment: Political factors Economic conditions (local to worldwide) Sociocultural forces Technological factors Environmental factors (the natural environment) Legal/regulatory conditions THINKING STRATEGICALLY ABOUT A COMPANY’S INDUSTRY AND COMPETITIVE ENVIRONMENT How strong are the industry’s competitive forces? What are the driving forces in the industry, and what impact will they have on competitive intensity and industry profitability? What market positions do industry rivals occupy—who is strongly positioned and who is not? What strategic moves are rivals likely to make next? What are the industry’s key success factors? Is the industry outlook conducive to good profitability? 3–3 QUESTION 2: HOW STRONG ARE THE INDUSTRY’S COMPETITIVE FORCES?

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• Competitive advantage
• Lecture Crafting and executing strategy
• Crafting strategy
• Executing the strategy
• Company’s strategy
• Distinctive strategy
• The mediating effect of entrepreneurial marketing
• The relationship between environmental turbulence
• Dynamic capability with sustainable competitive advantage
• An empirical study in Indonesian MSMEs
• Sustainable competitive advantage
• SEM PLS developed a model showing
• The competitive advantage of small and medium sized enterprises
• The competitive advantage of smal
• Medium sized enterprises
• Fundamentals of marketing
• Lecture fundamentals of marketing
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• Strategic management
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• Management information systems
• Introduction to management information systems
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