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Strategy#2
| Question | Answer |
|---|---|
| How can we analyse an industry environment | with PESTLE analysis |
| What are dymension of PESTLE | 1,Political 2,Economic 3,Social 4,Technological 5,Legal (Carbon tax,..) 6,Environmental (global warming) |
| What is relation between competition and surplus | strong competition= high costumer surplus weak competition= high producer surplus |
| What are Porters five forces dimensions | 1,Industry rivality (middle) 2,Supplier power (vertical competition) 3,Buyer power (vertical competition) 4,Threat of new entry (horizontal com.) 5,Substitute competition (horizontal com.) |
| What are 2 factors of Bargaining power of buyers | 1,Buyers´ price sensitivy 2,Relative bargaining power |
| What are 4 factors of Buyers´price sensitivity | 1,Cost of product relative to total cost 2,degree of differentation of the product 3,Intensity of competition between buyers 4,Product criticality (scarcity like chips..) |
| What are 3 factors of Relative bargaining power | 1,Size & concetration of buyers relative to suppliers 2,Buyers´ level of information 3,Ability of vertical integration (producing more own value chain activities) |
| What are 6 factor of Rivalry between established competitiors | 1,Seller concentration 2,diversity of competitors 3,Product differentiation 4,Excess capacity (unused capacity leaving an industry to offer price cuts to attract new business) 5,Exit barriers 6,Cost condition (FK vs vK) |
| What are 6 factors of Threat of new entry | 1,Capital requirements 2,economies of scale 3,Absolute cost advantage (access to cheap materials) 4,Product differentiation 5,access to channels of distribution 6,Governmental & legal barries |
| How can we forecast industry profitability (3) | 1, understanding the current & recent levels of profitability 2,Identify trends (with logic of 5 forces modell) 3,Indentify how trends will affect the five forces & their profitability |
| What are 2 crucial analysis for identifing Key Success Factors | 1,Analysis of demand 2,Analysis of competition |
| How to analyze demand (2) | 1,Who are our customers 2,What do they want |
| How does the firm survive competition (4) | 1,What drives competition (mostly price) 2,What are the main dimension of competition 3,How intense in competition 4,How can we obtain a superior competitive position |
| Why should same industry companies with same target group apply different strategies | they have different resources |
| What are Winner-take-all industries | competitive advantage is defined by market share, from network externalities (like Google) |
| How does hyper-competition developes itself (3) | 1, Intense & rapid competitive moves due to faster technological change 2,less stable industry structures 3,competitive advantage becomes temporary |
| What are complements (2) | 1,increase value of a product, while substitutes decrease the value 2,complementary product have usually no value in isolation |
| What are Interpendence in Game theory | decisions of one player are dependent on the actual & anticipared decision of another player |
| What are limitation of Game thoery | unrealistic assumption because people aren´t acting rational |
| What is competitive intelligence (3) | systematic collection of date about competitor to 1,Forecast their behavior 2,Predicting competitors reaction 3,determining how to influence competitors behavior |
| What do we have to analyze in competitor analysis so we can predict its behavior (4) | 1,Strategy (of competing company) 2,Objectives (competitors´ goal), 3,Assumptions (What assumptios does competitor have about industry & intself...) 4,Resources & Capabilities (competitors strengths & weaknesses) |
| What are 5 parts of segmentation procedure | 1,Identification of key variables 2,Construction of a segmentation matrix 3,Analysis of segment attractiviness (with Porter 5F) 4,Identification of segment´s key success factors (low-cost, reputation or others?) 5,Selection of segment scope |
| What does blue ocean strategy means | Identification of unoccupied market segments |
| How do we construct a segmentation matrix (2) | 1, we create a matrix with products & region dimension 2, we chose 2-3 best segments for us |
| What is going on in selection of segment scope | 1, decision if we want to be segment specialist or compete across multiple segment(generalist) |
| When it is better to be segment generalist (2) | 1,when there is similarity of KSFs(Key success factors) 2,Presence of shared cost across segments |
Created by:
semester1.IBWL
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