Fast followers group Put on the strategic map Chapter 3 Assignment This learning Module introduces the learner to the tools for external environmental analysis. Determining whether the driving forces are acting to strengthen or weaken market demand D. Sizable economies of scale in production E. Which rivals are likely to enter new geographic markets or expand their product offerings so as to enter new market segments where they currently do not have a presence? This is also relevant, because manufacturers are constantly developing newer and better technology to help save lives. Reproduction and distribution of this publication in any form without prior written permission is forbidden.
The company's resource strengths, resource weaknesses, and competitive capabilities Term 3. The information contained herein has been obtained from sources believed to be reliable. Which of the following is generally not considered as a barrier to entry? Whether industry members are struggling to make good profits because of slow-growing market demand Term 43. The resultant need to leverage external providers in mission-critical areas of enterprise support e. A the forces driving change in the industry. The customers have no say-so in the purchase of the equipment and devices, they just expect to have the best available. When incumbent firms are likely to launch competitive initiatives to strongly contest the entry of newcomers B.
The number and sizes of buyers, the number of rivals, and the pace of product innovation E. Increases in the economic power and bargaining leverage of customers and suppliers, growing supplier-seller collaboration, and growing buyer-seller collaboration Term 71. That is, when you share your map with the client, the client should gain true insight into why the firm is in a strong or weak competitive position in the industry. A salad as a substitute for French fries B. The rivalry among competing firms tends to be more intense A.
None of these is typically weakest. Which macro-environmental factors pose the most strategically relevant influences on the effectiveness of your career strategy and why? The variables chosen as axes for the map should be highly correlated. When few outsiders have the expertise and resources to hurdle whatever entry barriers exist E. Strategic partners share responsibility for the enterprise's destiny Source: Gartner. What is the current market size of your career industry in units or sales? To reduce inventory and logistics costs Definition A. How to Create a Strategy Map A strategy map looks similar in structure to a but the concepts it deals with are more similar to those found on a.
The enterprise must share its future strategic direction with the partner, and together the partner and enterprise must find mutually profitable ways to move beyond a license-revenue-based relationship. A strategic plan looks at all the things your small business could do and narrows it down to the things it is actually good at doing. What strategic moves are your rivals likely to make next? C Which rivals are good candidates to be acquired? Use the third variable as a key measure of competitive advantage, and demonstrate how the first two variables help explain why there is variance in performance among the competitors in a group. Reductions in uncertainty and business risk B. Wireless phones as a substitute for wired telephones C.
The bargaining leverage of suppliers is greater when A. To capitalize on company competencies and capabilities C. C competitive pressures associated with the threat of new entrants into the marketplace. Entry or exit of major firms, product innovation, and marketing innovation C. A strategy map is a visual summary of what a company plans to do in order to improve its business, gain more customers and improve its financial outlook. A strategy map provides multiple perspectives when evaluating a company and helps in the strategy's effective execution.
The company's resource strengths, resource weaknesses, and competitive capabilities Definition E. The tools of external analysis are required to answer these questions. Drawn in the appropriate position on the grid with regards to these two factors are the other players. What makes the marketplace a competitive battlefield is A. Diffusion of technical know-how across more companies and more countries D.
We put the others on our bookshelf just for show. Changing societal concerns, attitudes, and lifestyles — There are several groups of people who are changing attitudes and lifestyles in the world that affect the medical service industry. Competitive pressures associated with the threat of entry are greater when A. Substitutes are readily available at competitive prices. The degree to which rivals are satisfied with their current market position D.
Good competitive intelligence about the strategies and competitive strengths and weaknesses of rival companies helps management determine A. Industry prospects, pg 84— this should be a brief summary of the analyses conducted above. To gain economic incentives offered by governments of developing countries wishing to expand industry and job creation E. Factors that tend to result in weak rivalry among competing sellers include A. Brand name reputation and distribution channel emphasis C.