1. Why do managers use strategic analysis? 2. Describe a firm's macro environment and how managers use PESTEL to understand it. 3. What is a firm's micro environment and why is it important? 4. When does a firm have a competitive advantage over its rivals? 5. What do strategic group members have in common with each other? What impact do firms outside a strategic group have on those in that group? 6. How does strategic analysis help a firm develop its own strategic position? Why should that position be unique?

1. Why do managers use strategic analysis? 2. Describe a firm's macro environment and how managers use PESTEL to understand it. 3. What is a firm's micro environment and why is it important? 4. When does a firm have a competitive advantage over its rivals? 5. What do strategic group members have in common with each other? What impact do firms outside a strategic group have on those in that group? 6. How does strategic analysis help a firm develop its own strategic position? Why should that position be unique?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Question

1. Why do managers use strategic analysis?
2. Describe a firm's macro environment and how managers use PESTEL to
understand it.
3. What is a firm's micro environment and why is it important?
4. When does a firm have a compefitive advantage over its rivals?
5. What do strategic group members have in common with each other? What
impact do firms outside a strategic group lrave on those in that group?
6. How does strategic analysis help a firm develop its Own strategic position?
Why should that position be unique?

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