Organization to study-understand its external environment

Assignment Help Operation Management

Reference no: EM131485793

1. Why is it important for an organization to study and understand its external environment?

2. How do the five competitive forces in Porter’s model affect the average profitability of the industry? For example, in what way might weak forces increase industry profits, and in what way do strong forces reduce industry profits? Identify an industry in which many of the competitors seem to be having financial performance problems. Which of the five forces seems to be strongest?

Reference no: EM131485793

Questions Cloud

Contributed to increased emphasis on physical distribution : What consumer trends have contributed to an increased emphasis on physical distribution as an element of Place.

Customers as well as improve utility of products and service : Discuss how innovation can be used to create value for the customers as well as improve utility of products and services.

Cuts steel panels with process center : Consider a normally distributed process that cuts steel panels with a “process center” of 12 inches and a standard deviation of .06 inches.

What is a strategic group : What is a strategic group? How can studying such groups be useful in industry analysis?

Organization to study-understand its external environment : Why is it important for an organization to study and understand its external environment?

Identify an industry that is undergoing intense competition : Identify an industry that is undergoing intense competition or is being featured in the business press.

What characteristics does effective mission statement have : What characteristics does an effective mission statement have?

Firm effects are more important than industry effects : Research found that firm effects are more important than industry effects. What does this mean? Can you think of situations where this might not be true?

Chosen to minimize penalty costs : What value of x should be chosen to minimize penalty costs?

User Account

All Pages