Explain industry and competitive environment of a company

Question

Explain the industry and competitive environment of a company.

Answer 1

Thinking strategically regarding an organizational Industry and Competitive Environment:

1. Industries differ broadly in their economic features, profit outlook and competitive character.

2. An industry’s economic behavior and competitive conditions – and how they are probable to alter – determine whether its future benefit prospects will be average, poor or excellent.

3. Thinking strategically about an organizational competitive environment entails using some well defined notions and analytical tools to obtain clearly.