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    External analysis: identification of industry opportunities and threats.

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    I'm working at writing a strategic management paper with an overview of the strategic management process, External analysis: identification of industry opportunities and threats. External analysis: Distinctive competencies, competitive advantage and profitability. A few pointers to give me directions on how narrow down and explain these concepts in strategic management. Thanks for your help in advance.

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    P.S: Answer with explanations and diagrams is included in brainmass.doc file attached

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    We begin our strategic planning process by identifying the firm's existing vision, mission/goals and objectives. As we know, when an organization is formed its initiators (founders) have a "vision" for he future of this firm. They have some core values like eg. good customer service, creativity or social responsibility etc. Over the years their vision is refined and clarified as is the mission statement and its embedded goals. These are like milestones and they may be long or short-term . Briefly objectives are the goals that the firm hopes to accomplish in its immediate future. We can learn the main objectives from the company's mission statement, press releases in its website, articles ...

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    Here is just a sample of what you'll find in this solution:

    "After talking about these objectives we identify the firm's basic approach to competition in its primary industry and we assess the firm's general condition."

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