MGT 3830 Chapter Notes - Chapter 3: Pest Analysis, Cumulative Learning, Coopetition
Document Summary
3. 1- the pestel framework: political, economic, sociocultural, technological, 3. 2- industry structure & firm strategy: five forces model. Competition in the five forces model: threat of entry, power of suppliers, power of buyers, threat of substitutes. 3. 4- performance differences within the same industry: strategic groups. 3. 1- pestel analysis: evaluate the impact of external factors. 3. 2- apply porter"s 5 competitive forces to explain profit potentials. 3. 3- explain how competitive industry structure shapes rivalry. 3. 4- describe strategic role of compliments creating positive-sum co-opetition. 3. 5- appraise role of industry dynamics and industry convergence in shaping external environment. 3. 6- strategic group model reveal performance differences between clusters of firms within the same industry. External environment affect potential to gain and sustain a competitive advantage. Can mitigate to threats and leverage opportunities. Consider source of proximity of factors: general environment: little influence, macroeconomic, task environment: composition of groups. Processes & actions of the government that apply to non-market strategies: lobbying, pr, contribution, litigation.
