Term
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Definition
| Composed of dimensions in the broader society that influence an industry and firm within it |
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Term
| Seven Environmental Segments |
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Definition
| Demographic, Economic, Political/Legal, Sociocultural, Technological, Global, and Physical |
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Term
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Definition
| The set of factors that directly influence a firm and its competitive actions and responses. |
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Term
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Definition
| Threat of New Entrants, Power of Supplies, Power of Buyers, Product Substitutes, and Intensity of Rivalry |
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Term
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Definition
| A condition in general environment that if exploited effectively it helps a company achieve strategic competitiveness. |
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Term
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Definition
| A condition in general environment that may hinder companies efforts to achieve strategic competitiveness |
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Term
| Four Componenets of External Environmental Analysis |
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Definition
| Scanning, Monitoring, Forecasting, and Assessing |
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Term
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Definition
| Entails the study of all segments in the general environment. Reveals ambiguous, incomplete, or unconnected data and information. |
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Term
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Definition
| Analysists observe environemntal changes to see if an important trend is emerging from among those spotted through scanning. |
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Term
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Definition
| Analysts develop physical projections of what might happen and how quickly as a result of the changes and trends detected through scanning and monitoring. |
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Term
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Definition
| To determine the timing and significance of the effects of enviornmental changes and trends that have been identified. |
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Term
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Definition
| Population Size, Age structure, Geographic Distribution, Ethnic Mix, and Income Distribution, The Economic Segment |
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Term
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Definition
| Capital Requirements, Economies of Scale, Absolute Cost Advantages, Product Differentiation, Switching Costs, Access to Distribution, Legal and Regulatory, Expected Retaliation |
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Term
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Definition
| Numerous or Equally Balanced Competitors, Slow Growth, High Fixed Costs, High Storage Costs, Lack of Differentiation, Lack of Switching Costs, Capacity added in large increments, Diverse Competitors, High Strategic Stakes, High Exit Barriers |
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Term
| Bargaining Power of Buyers |
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Definition
| Buyer Concentration, Purchases represent a high % of buyer costs, Industry products not differentiated, Buyers face few switching costs, Industry products unimportant to quality of buyers products, Buyers industry very competitive, Buyers have full information on industry costs, Buyers present threat of backward integrating |
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Term
| Bargaining Power of Suppliers |
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Definition
| Supplier Concentration, Suppliers' products have few substitutes, Industry represents low % of supplier sales, Suppliers' products differentiated, Industry faces switching costs, Suppliers products important to quality of ind. products, Threat of suppliers forward integrating |
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Term
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Definition
| Products with similar function that limit the prices firms can charge. |
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Term
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Definition
| a set of firms that emphasize similar strategic dimensions and use a similar strategy |
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Term
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Definition
| focuses on each company against which a firm directly competes. |
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Term
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Definition
| is the set of data and information the firm gathers to better understand and better anticipate competitors' objectives, strategies, assumptions and capabilities. |
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Term
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Definition
| are companies or networks of companies that sell complementory goods or services that are competible with the focal firm's good service. |
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Term
| Competitor Analysis Components |
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Definition
- what drives competitor- future objectives
- what competitor is doing and can do - current strategy
- what the competitor believes about industry - assumptions
- what the competitor's capabilities are- weaknesses
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