Why must managers be aware of a firm's external
environment?
What is gathering and analyzing competitive intelligence
and why is it important for firms to engage in it?
Discuss and describe the six elements of the external
environment.
Select one of these elements and describe some
changes relating to it in an industry that interests you.
Describe how the five forces can be used to determine
the average expected profitability in an industry.
What are some of the limitations (or caveats) in using
five-forces analysis?
Explain how the general environment and industry
environment are highly related. How can such interrelationships
affect the profitability of a firm or industry?
Explain the concept of strategic groups. What are the
performance implications?
