After reading this chapter, you should have a good understanding of the following learning objectives:
LO 2.1 | The importance of developing forecasts of the business environment. |
LO 2.2 | Why environmental scanning, environmental monitoring, and collecting competitive intelligence are critical inputs to forecasting. |
LO 2.3 | Why scenario planning is a useful technique for firms competing in industries characterized by unpredictability and change. |
LO 2.4 | The impact of the general environment on a firm's strategies and performance. |
LO 2.5 | How forces in the competitive environment can affect profitability, and how a firm can improve its competitive position by increasing its power vis-à-vis these forces. |
LO 2.6 | How the Internet and digitally based capabilities are affecting the five competitive forces and industry profitability. |
LO 2-7 | The concept of strategic groups and their strategy and performance implications. |