In 200-300 words of notes discuss External Analysis: The Identification of Opportunities and Threats such as competitive force and the industry life-cycle analysis. Discuss how industries evolve over time, with reference to the industry life-cycle model.
The industry life cycle grows over time and then shrinks at the end of the industry. The stages of the industry life cycle are introduction, growth, maturity and decline. In the introductory stage, the industry has just begun to grow. There may be a small number of companies in the industry. The industry can be considered a niche because of the number of companies or the product that are delivered. For example, a niche market could be the eReader industry. There are a small number of companies involved in the industry such as Amazon, Barnes and Noble and Sony. There are few competitors within an industry in the introduction stage. Finally, the customers may not be completely sure of the features of the product that they ...
The approach at strategic management is examined. The administrative strategy is provided. The expert provides a discusses on how industries evolve over time.
1. Differentiate between company philosophy and public image. In your opinion, should organizations address either or both of these in a mission statement? Why or why not.
2. Compare and contrast the three fundamental ethical approaches managers should consider, when adopting a philosophical approach to ethics. Offer your opinion as to why consistency is the most critical quality of ethical decision making.
3. Compare and contrast the factors that determine powerful suppliers and powerful buyers. As a manager, would you least prefer having to deal with the loss of profits brought on my powerful suppliers or powerful buyers? Explain your answer.
4. Differentiate between multi-domestic and global industry. Justify why strategic management planning should be global.
5. Describe the elements of SWOT analysis and its limitations. As a manager, would SWOT analysis be of any value to your firm, in conducting a strategic analysis? Why or why not?
6. Summarize both the benefits and risks of strategic management. Knowing that there are risks involved, justify a manager's decision to employ strategic planning.
Please help me with these questions. I need some news ideas and insights. Thank you.View Full Posting Details