1 Analyze the external forces that impact a firms competitive position. MO2.2 Apply analytical tools such as the five forces framework and strategic group mapping to assess a firms competitive situation. MO2.3 Assess both the forces that impact industry change and key success factors. Textbook Reading Read Chapter 3 in Thompson, Crafting and Executing Strategy. Familiarize yourself with the five generic competitive strategies in Chapter 5. Introduction Welcome to Module 2 of the course. Module 2 examines the environment in which a company functions. A company interacts with many external forces in conducting its business. These include rival firms, suppliers, buyers, substitute products, or new competitors. The external environment also includes broader forces such as government and legal regulations, technological changes, international competition, the general state of the economy, demographic trends, and the natural environment, among others. Understanding the external environment is necessary for managers if they are to craft a strategy that can be successfully implemented. A diagnosis of the external environment provides a big picture of the world in which the company exists and has to operate. This module introduces you to several important analytical tools to help managers get a meaningful sense of the external environment. These include the five forces model of competition, strategic group mapping, competitive intelligence, and key success factors, among others. These tools enable managers to determine how their company is positioned to Course Syllabus S-15 compete successfully and what changes and adaptations may be necessary. Module 2 should encourage you to follow the news every day. National and international business as well as political, legal, economic, social, cultural, and environmental issues all impact how companies function, react, and adapt to an environment that is dynamic and often unpredictable. Discussion Assignment 1 Answer the following questions in short essay form: 1. Why should a U.S.-based company be concerned if an earthquake, tsunami, or nuclear power plant accident occurs in Japan? 2. With rapid changes in technology, the boundaries of industries are being redefined. What industry is Google in? Who are Googles main competitors today and where might new competition come from?
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