Assignment:
Select three economic characteristics from Table chapter three of Essentials of Strategic Management (Market size and growth rate; Scope of competitive rivalry; Demand-supply conditions; Market segmentation; and Pace of technological change) and answer the related question in the table in the context of the leadership development program you plan on proposing. The term "industry" could be substituted for "organization" or "field" if that is more suitable. If necessary the related question can he modified or adjusted in order to be relevant to your program needs.
1. How big is the industry and how fast is it growing?
2. What does the industry's position in the cycle (early development, rapid growth and takeoff, early maturity and slowing growth, saturation and stagnation, decline) reveal about the industry's growth prospects? Scope of competitive rivalry.
3. Is the geographic area over which most companies compete local, regional, national, multinational, or global? Demand-supply conditions.
4. Is a surplus of capacity pushing prices and profit margins down?
5. Is the industry overcrowded with too many competitors? Market segmentation Is the industry characterized by various product characteristics or customer wants, needs, or preferences that divide the market into distinct segments? Pace of technological change.
6. What role does advancing technology play in this industry?
7. Do most industry members have or need strong technological capabilities? Why?