Essentials of Strategic Management Class
Strategic Management Project about (Westlake Chemical Company)
Power of Suppliers
Briefly define the bargaining power of suppliers and identify the buyers in this particular industry (What type of companies or individuals supply to this industry?). List the major underlying factors of this force (see chapter 3 of the textbook for the detailed list). Using data show how each factor applies to this industry.
Conclude by assessing the strength of this force, explaining its implication for the profitability of the industry, and identifying the related opportunities and/or threats.
Intensity of Rivalry
Briefly define the intensity of rivalry. List the major underlying factors of this force (see chapter 3 of the textbook for the detailed list). Using data show how each factor applies to this industry.
Conclude by assessing the strength of this force, explaining its implication for the profitability of the industry, and identifying the related opportunities and/or threats.
Competition Analysis
Briefly explain the competition analysis and its purpose.
Industry Competitors
What are the major factors that distinguish between the competitors (see chapter 3 of the textbook under the "strategic groups" for some examples)? Based on those factors which companies are more similar to (and therefore direct competitors of) our company?
Rivals Anticipated Strategic Moves
What are the recently announced moves of the competitors?
What are their strategies? How are they expected to act in the future? How will those actions affect our company? Are there any threats or opportunities?
Key Success Factors
Briefly define key success factors. What are the major product attributes, resources, and/or capabilities that are essential for success in this industry? You can find some examples of KSFs in chapter 3 of the textbook. You need to support your assertions with factual evidence.
Summary of Opportunities and Threats
In your analysis of the external environment, you should have identified the opportunities and threats in the company's external environment. Please list them separately and briefly explain them. Please note that the results should be taken directly from the findings of this chapter only. You do not need to make any further analysis. However, please make sure that the factors that you list here are tied to your analysis of the external environment.