Kế hoạch kinh doanh - Understanding the factors that determine a company’s situation

Evaluating a Company’s External Environment Screen graphics created by:Jana F. Kuzmicki, Ph.D.Troy University-Florida Region Diagnosing a company’s situation has two facetsAssessing the company’s external ormacro-environmentIndustry and competitive conditionsForces acting to reshape this environmentAssessing the company’s internal ormicro-environmentMarket position and competitiveness Competencies, capabilities, resource strengthsand weaknesses, and competitivenessUnderstanding the Factors that Determine a Company’s SituationFig. 3.1: From Thinking Strategically about theCompany’s Situation to Choosing a Strategy Fig. 3.2: The Components of a Company’s Macro-environmentThinking Strategically about aCompany’s Macro-environmentA company’s macro-environment includes all relevant factors and influences outside its boundariesDiagnosing a company’s external situation involves assessing strategically important factors that have a bearing on the decisions a company’s makes about itsDirectionObjectivesStrategyBusiness modelRequires that company managers scanthe external environment toIdentify potentially important external developmentsAssess their impact and influenceAdapt a company’s direction and strategy as neededKey Questions Regarding theIndustry and Competitive EnvironmentWhat are the industry’s dominant economic traits? How strong are competitive forces?What forces are driving change in the industry?What market positions do rivals occupy? What moves will they make next?What are the key factors for competitive success?How attractive is the industry from a profit perspective?Market size and growth rateNumber of rivalsScope of competitive rivalryBuyer needs and requirementsDegree of product differentiationProduct innovationSupply/demand conditionsPace of technological changeVertical integrationEconomies of scaleLearning and experience curve effectsQuestion 1: What are the Industry’sDominant Economic Traits?Question 2: What Kinds of CompetitiveForces Are Industry Members Facing?Objectives are to identifyMain sources of competitive forcesStrength of these forcesKey analytical toolFive Forces Modelof CompetitionFig. 3.3: The Five Forces Model of CompetitionAnalyzing the Five Competitive Forces: How to Do ItStep 1: Identify the specific competitivepressures associated with each ofthe five forcesStep 2: Evaluate the strength of eachcompetitive force -- fierce, strong,moderate to normal, or weak? Step 3: Determine whether the collectivestrength of the five competitive forcesis conducive to earning attractive profitsFig. 3.4: Weapons for Competing and Factors Affecting Strength of RivalryFig. 3.5: Factors Affecting Threat of Entry Fig. 3.6: Factors Affecting Competition From Substitute ProductsFig. 3.7: Factors Affecting Bargaining Power of SuppliersFig. 3.8: Factors Affecting Bargaining Power of BuyersQuestion 3: What Factors Are Driving Industry Change and What Impacts Will They Have?Industries change because forcesare driving industry participantsto alter their actionsDriving forces are themajor underlying causesof changing industry andcompetitive conditionsWhere do driving forces originate?Outer ring of macroenvironmentInner ring of macroenvironmentQuestion 4: What Market PositionsDo Rivals Occupy?One technique to revealdifferent competitive positionsof industry rivals isstrategic group mappingA strategic group is acluster of firms in an industrywith similar competitiveapproaches and market positionsFirms in same strategic group have two or more competitive characteristics in commonHave comparable product line breadthSell in same price/quality rangeEmphasize same distribution channelsUse same product attributes to appealto similar types of buyersUse identical technological approachesOffer buyers similar servicesCover same geographic areasStrategic Group MappingA firm’s best strategic moves are affected byCurrent strategies of competitorsFuture actions of competitors Profiling key rivals involves gatheringcompetitive intelligence aboutCurrent strategiesMost recent actions and public announcementsResource strengths and weaknessesEfforts being made to improve their situationThinking and leadership styles of top executivesQuestion 5: What Strategic Moves AreRivals Likely to Make Next?Sizing up strategies and competitive strengths and weaknesses of rivals involves assessingWhich rival has the best strategy? Whichrivals appear to have weak strategies?Which firms are poised to gainmarket share, and which onesseen destined to lose ground?Which rivals are likely to rank among the industry leaders five years from now? Do any up-and-coming rivals have strategies and the resources to overtake the current industry leader?Competitor AnalysisKSFs are those competitive factors most affecting every industry member’s ability to prosperKSFs concernSpecific strategy elementsProduct attributesResourcesCompetenciesCompetitive capabilities that a company needs to be competitively successfulKSFs are attributes that spell the difference betweenProfit and lossCompetitive success or failureQuestion 6: What Are the KeyFactors for Competitive Success?Involves assessing whether the industryand competitive environment is attractiveor unattractive for earning good profitsUnder certain circumstances, a firm uniquelywell-situated in an otherwise unattractive industry can still earn unusually good profitsAttractiveness is relative, not absoluteConclusions about attractiveness have to be drawn from the perspective of a particular companyQuestion 7: Does the Outlook for the Industry Present an Attractive Opportunity?