What are seven questions for analytical and concepts tools
What are seven questions for the analytical and concepts tool to define?
Expert
Thinking strategically regarding a company’s competitive environment involves using several well defined analytical and concepts tools to determine clear answers to given seven questions:
a. What are the dominant economic features of the industry in which the organization operates?
b. What types of competitive forces are organization associates facing and how strong is each force?
c. What forces are driving alters in the industry and what crash will these changes have on industry profitability and competitive intensity?
d. What market positions do industry rivals occupy – who is strongly positioned and who is not positioned?
e. What strategic moves are rivals likely to create next?
f. What are the main factors for future competitive success?
g. Does the view for the industry present the organization with sufficiently attractive prospects for profitability?
The answers to these questions give managers with a solid diagnosis of the industry and competitive environment.
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