Crafting & Executing Strategy: Concepts (standalone Book), 22nd Edition
Crafting & Executing Strategy: Concepts (standalone Book), 22nd Edition
22nd Edition
ISBN: 9781260157376
Author: Arthur A. Thompson
Publisher: McGraw Hill Education
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Chapter 4, Problem 5LO
Summary Introduction

To discuss: The way detailed analysis of company’s competitive situation can help the managers to make next moves in case of critical situations.

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Compare the evolving company orientations used to adapt to the fast-changing competitive environment. Is there one orientation that companies should be following?
A profitable company will make it a point to determine how its competitors are doing business and try to do it better themselves. Benchmarking is one of the most effective tools available to an organization to ensure that these goals are being met. Many organizations use benchmarking as a way to measure organizational performance. What are the pros and cons of this approach? Has this approach always been used as a competitive tool? Provide at least two examples of companies using this type of tool to help them remain competitive within their market.
Identify the six forces that shape competition in an industry. Describe how changes in the strength of these forces affect prices, profitability, and under which circumstances each can be considered a threat or opportunity. Why is a competitive analysis using the competitive forces framework a benefit to industry?
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