Today I have been...
Reading the Unit 2 summary
Why?
Required
So What?
Unit 2 covered various ways to analyse the external environment.
Macro environment, STEP and 5F.
Impact of industry structure
Competitors
Strategic Groups & Space
The pace of change is increasing. You need to expand your imagination. Environmental changes can occur because of changes in technology and demand. It can affect the structure and boundaries of industries.
It is becoming harder to identify competitors. In fact the line between co-operation and competition is becoming harder to place. We may need other players in the industry to work with us.
How will I use it?
Lets re-visit the learning outcomes...
- Undertake environmental analysis - macro, industry, strategic group/space, competitor and evaluate opportunities and threats
- Understand the influence of key macro-economic variables on your strategy, the concepts behind 5F and basic game theory
- Industry dynamics, differences in the competitive dynamics, and structural dynamics eg changing industry boundaries
- Understand scenario planning and its uses
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