After reading this chapter, you should have a good understanding of:
The impact of the general environment on a firm's strategies and performance.
How forces in the competitive environment can affect profitability, and how a firm can improve its competitive position by increasing its power vis- à -vis these forces.
How trends and events in the general environment and forces in the competitive environment are interrelated and affect performance.
How the Internet and digitally based capabilities are affecting the five competitive forces and industry profitability.
The concept of strategic groups and their strategy and performance implications.
