Exam 4: Tools for Environment Analysis

With a blue ocean strategy, firms seek to exploit existing demand among existing customers.

Scenario planning incorporates alternative futures into the strategic planning process.

Because consumers have choice, they also have considerable power to influence market prices.

A technology that introduces a novel package of attributes for a traditional product is known as a

One aspect of an industry value chain can be more profitable than another.

Competitors are not considered stakeholders for the purpose of stakeholder analysis.

For new entrants, an attractive industry is one with

Substitutes are considered to be products

For existing firms, an attractive industry is one with

In emerging industries where demand is growing, competitive rivalry is

To create value for the consumer, firms seek to

Compared to new entrants, existing firms that have made substantial investments in their operations have a

Dominant stakeholders are often vocal but have little legitimacy or power.

External forces that can impact an industry include

The purpose of conducting an industry analysis is to generate insights that will suggest opportunities for the firm.

Suppliers have power if they can pass cost increases on to their customers.

The threat of competitive retaliation is not considered a barrier to entry.

Raw material shortages usually benefit

Cost disadvantages for new entrants can arise from

Externalities are strategy spill-over effects on society.