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Company¶s External
Environment
c
c
ß nalysis is the critical starting
point of
strategic thinking.´
Kenichi Ohmae
Consultant and uthor
ßThings are always different ±
the art is figuring out which
differences matter.´
Laszlo Birinyi
Investments Manager
Chapter Learning Objectives
. To gain command of the basic concepts and
analytical tools widely used to diagnose a
company¶s industry and competitive conditions.
2. To become adept in recognizing the factors that
cause competition in an industry to be fierce, more
or less normal, or relatively weak.
3. To learn how to determine whether an industry¶s
outlook presents a company with sufficiently
attractive opportunities for growth and profitability.
. To understand why in depth evaluation of specific
industry and competitive conditions is a prerequisite
to crafting a strategy well matched to a company¶s
situation.
Chapter Roadmap
ý The Strategically Relevant Components of a
Company¶s External Environment
ý Thinking Strategically bout a Company¶s Industry
and Competitive Environment
o : What re the Industry¶s Dominant Economic
Features?
o : How Strong re Competitive Forces?
o !: What Forces re Driving Industry Change and
What Impacts Will They Have?
o ": What Market Positions Do Rivals Occupy²
Who Is Strongly Positioned and Who Is Not?
o #: What Strategic Moves re Rivals Likely to
Make Next?
o $: What re the Key Factors for Future
Competitive Success?
o %: Does the Outlook for the Industry Offer the
Company a Good Opportunity to Earn ttractive Profits?
Understanding the Factors that
Determine a Company¶s Situation
ý ±
&
c
Figure 3.: From Thinking Strategically bout the
Company¶s Situation to Choosing a Strategy
Figure 3.2: The Components of a Company¶s Macro environment
Thinking Strategically bout a
Company¶s Macro environment
ý company¶s macro environment includes all
' ' outside its
boundaries
ý Diagnosing a company¶s external situation involves
assessing (' that have a
bearing on the decisions a company¶s makes about
its
Direction
Objectives
Strategy
Business model
ý Requires that company managers
& to
Identify potentially important external developments
ssess their impact and influence
dapt a company¶s direction and strategy as needed
Key Questions Regarding the
Industry and Competitive Environment
What forces
How strong are
are driving
competitive
change in the
forces?
industry?
ý
ý ±
ý !
ý
"
ý !
ý #
ý $
ý % &
Table 3.: What to Consider in Identifying
an Industry¶s Dominant Economic Features
Learning/Experience Effects
ý (
Figure 3.3: The Five Forces Model of Competition
nalyzing the Five Competitive
Forces: How to Do It
4 :
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When Is the Threat of Entry 4+
ý $
ý
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When Is the Threat of Entry )+
ý
ý $
ý
ý
ý
2
Competitive Pressures from
Substitute Products
Concept
4 *
Examples
/
$
/
ý +
2
Figure 3.: Factors ffecting Competition From Substitute Products
When Is the Competition
From Substitutes 4+
ý
32
Competitive Pressures From Suppliers
and Supplier Seller Collaboration
33
Figure 3.: Factors ffecting Bargaining Power of Suppliers
When Is the Bargaining
Power of Suppliers 4+
ý
ý
+
$&
/
3
Strategic Implications of
the Five Competitive Forces
ý
-
$
Strategic Implications of
the Five Competitive Forces
ý
,
-
$
&
Coping With the
Five Competitive Forces
*
Question 3: What Forces re Driving Industry
Change and What Impacts Will They Have?
ý $
& '
ý ±
ý
2
Strategic Group Mapping
+
&*+
'
*
2
Question : What re the Key
Factors for Competitive Success?
ý ((4 v 0(1
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ý (4v
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!
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!
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3
Identifying Industry Key Success Factors
Question : Does the Outlook for the
Industry Offer an ttractive Opportunity?
Factors to Consider in
ssessing Industry ttractiveness
ý ( )(*/ (
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Core Concept: ssessing
Industry ttractiveness