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Strategic Management
, Sixth Edition
Charles W. L. Hill, University of Washington
Gareth R. Jones, Texas A&M University
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| | Chapter Objectives
Chapter 2:
External Analysis: The Identification of Industry Opportunities and Threats
- Stress the importance of understanding the forces that shape competition in a company's external environment.
- Illustrate how change in the external environment gives rise to strategic opportunities and threats.
- Discuss the strategic importance of each of Porter's five forces, including potential new entrants, degree of rivalry, the power of buyers and suppliers, and the threat of substitutes.
- Understand the emergence of a sixth competitive force-complementors.
- Describe the concepts of strategic groups and mobility barriers, highlighting their competitive implications.
- Discuss the industry life cycle, including the different stages of industry evolution, and review the competitive implications of each stage, paying particular attention to how rivalry and barriers to entry change as an industry evolves.
- Discuss the limitations of the five forces, strategic group, and industry life cycle models.
- Discuss the different forces in the wider macroenvironment that give rise to strategic opportunities and threats.
- Identify the forces that have resulted in the globalization of production and markets, and identify the competitive implications of globalization.
- Highlight the link between national context and competitive advantage.
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