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Discuss the strategic relevance of identifying the industry’s dominant economic features.

Discuss the strategic relevance of identifying the industry’s dominant economic features. Give four examples of relevant factors and discuss what makes them strategically important facts.
What are the seven key questions which form the framework of thinking strategically about a company’s industry and competitive environment?
Draw the five-forces model of competition and briefly describe the relevance of each of the five forces in determining the overall strength of competitive pressures a company faces. Which of the five competitive forces is typically the strongest?
Identify and briefly explain any four of the factors that influence the strength or intensity of competitive rivalry among an industry’s member firms.
Identify and briefly explain any two of the factors that influence the strength of competition from substitute products.
Identify and briefly explain any three factors that intensify competitive pressures stemming from the threat that new firms will enter the industry.


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