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Click to edit Master text styles,Second level,Third level,Fourth level,Fifth level,2|,*,Click to edit Master title style,Chapter,Two,External Analysis:,The Identification of Opportunities and Threats,“,To assure victory,alwayscarefully survey thefieldbefore battle.”,-Sun Tzu,RoyaltyFree/Stockdisc/Getty Images,2,External Analysis requires an assessment of:,Industry environmentin which company operates,Competitive structureof industry,Competitive positionof thecompany,Competitiveness and positionof major rivals,The country ornational environmentsin which company competes,The wider socioeconomic or macroenvironment thatmay affect thecompany and its industry,Social,Government,Legal,International,Technological,External Analysis,The purpose ofexternal analysis isto identifythe strategic,opportunities,and,threats,in theorganizationsoperating environment thatwill affect howit pursues its mission.,3,External Analysis:Opportunities and Threats,Analyzing thedynamics of the industry inwhich an organizationcompetes to help identify:,Opportunities,Conditions inthe environment thata company cantake advantageof tobecomemore profitable,Threats,Conditions inthe environment thatendanger the integrity and profitability of the companys business,4,Industry Analysis:Definingan Industry,I,ndustry,A groupof companiesoffering products orservices thatare close substitutesfor each other and that satisfy the samebasic customerneeds,Industry boundaries may change as customerneedsevolveand technologychanges,Sector,A groupof closely related industries,MarketSegments,Distinct groups of customerswithinan industry,Can bedifferentiatedfrom each other withdistinct attributesand specific demands,Industry analysis begins byfocusing on the overall industry,beforeconsidering market segment or sector-levelissues,5,The Computer Sector:Industriesand Market Segments,Figure2.1,6,Porters FiveForcesModel,Source:Adapted andreprinted by permission of,HarvardBusiness Review.,From“How CompetitiveForcesShapeStrategy,”byMichaelE.Porter,HarvardBusiness Review,March/April 1979,by thePresident andFellowsof Harvard College.All rights reserved.,Figure2.2,7,Howthe FiveForces Shape Competition withinanIndustry,Thestrongerthateach of these fiveforces is,themorelimited is theability of established companiestoraisepricesand earngreaterprofits withintheirindustry.,Aweakcompetitiveforce,maybeviewed as anopportunity,asitallowscompanytoearngreater profits,Astrongcompetitiveforce,maybeviewed as athreat,asitdepressesindustryprofits,Strengthofforcesmay change,Asindustryconditions change,Through itschoiceofstrategies,acompany mayalterthestrengthofoneor moreofthe fiveforces to itsadvantage.,8,PotentialCompetitors,arecompanies thatare notcurrentlycompeting in an industry buthave thecapability to do so if theychoose.Barrierstonewentrantsinclude:,Risk of Entry by PotentialCompetitors,EconomiesofScale,asfirmsexpandoutput unitcostsfallvia:,Cost reductions,through massproduction,Discountsonbulkpurchases,ofrawmaterialand standard parts,Cost advantages,of spreadingfixedandmarketing costs overlargevolume,BrandLoyalty,Achievedbycreatingwell-established customer preferences,Difficultfor newentrantstotake marketsharefrom established brands,AbsoluteCost Advantages,relativetonewentrants,Accumulatedexperience,in productionand keybusinessprocesses,Control of particularinputs required forproduction,Lowerfinancialrisks,accesstocheaperfunds,CustomerSwitchingCostsfor Buyers,wheresignificant,Government Regulation,Maybeabarrier to enter certainindustries,9,IndustryCompetitiveStructure,Numberand sizedistribution of companies,Consolidatedversus fragmentedindustries,DemandConditions,Growing demand,tendstomoderatecompetitionandreduce rivalry,Decliningdemand,encourages rivalryfor marketshareandrevenue,Cost Conditions,High fixed costs,profitability leveragedbysalesvolume,Slow demandandgrowth,canresult in intenserivalryandlowerprofits,HeightofExitBarriers,preventscompaniesfromleaving industry,Write-offofinvestmentinassets,Economicdependence on industry,Maintainassets-,toparticipate,effectivelyinanindustry,Rivalry Among Established Companies,CompetitiveRivalry,referstothe competitive struggle betweencompanies in thesame industry to gainmarket share fromeachother.Intensity of rivalryisafunctionof:,High fixed costs of exit,Emotionalattachmenttoindustry,Bankruptcy regulations,allowingunprofitableassets to remain,10,IndustryBuyers,maybethe consumersorend-userswho ultimatelyuse theproduct or intermediaries thatdistributeorretailthe products.Thesebuyersare mostpowerfulwhen:,BargainingPowerofBuyers,Buyersaredominant.,Buyersarelargeandfewinnumber.,Theindustrysupplyingtheproductiscomposedofmanysmallcompanies.,Buyerspurchaseinlargequantities.,Buyershavepurchasingpowerasleverageforpricereductions.,Theindustryisdependantonthebuyers.,Buyerspurchasealargepercentageofacompanystotalorders.,Switchingcostsforbuyersarelow.,Buyerscanplayoffthesupplyingcompaniesagainsteachother.,Buyerscanpurchasefromseveralsupplyingcompaniesaton
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