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t (., labor agreements) Emotional barriers Government and social restrictions Strategic interrelationships Rivalry Among Existing Competitors Ch244 Competitor Analysis The followup to Industry Analysis is effective analysis of a firm’s Competitors Competitive Environment Industry Environment Ch245 Competitor Analysis Assumptions What assumptions do our petitors hold about the future of industry and themselves? Current Strategy Does our current strategy support changes in the petitive environment? Future Objectives How do our goals pare to our petitors’ goals? Capabilities How do our capabilities pare to our petitors? Response What will our petitors do in the future? Where do we have a petitive advantage? How will this change our relationship with our petition? Ch246 Future Objectives How do our goals pare to our petitors’ goals? Where will emphasis be placed in the future? What is the attitude toward risk? What Drives the petitor? Competitor Analysis Ch247 What is the petitor doing? What can the petitor do? Future Objectives How do our goals pare to our petitors’ goals? Where will emphasis be placed in the future? What is the attitude toward risk? Current Strategy How are we currently peting? Does this strategy support changes in the petitive structure? Competitor Analysis Ch248 What does the petitor believe about itself and the industry? Future Objectives How do our goals pare to our petitors’ goals? Where will emphasis be placed in the future? What is the attitude toward risk? Current Strategy How are we currently peting? Does this strategy support changes in the petition structure? Do we assume the future will be volatile? Are we assuming stable petitive conditions? What assumptions do our petitors hold about the industry and themselves? Assumptions Competitor Analysis Ch249 What are the petitor’s capabilities? Future Objectives How do our goals pare to our petitors’ goals? Where will emphasis be placed in the future? What is the attitude toward risk? Current Strategy How are we currently peting? Does this strategy support changes in the petition structure? Do we assume the future will be volatile? Are we operating under a status quo? What assumptions do our petitors hold about the industry and themselves? Assumptions What are my petitors’ strengths and weaknesses? How do our capabilities pare to our petitors? Capabilities Competitor Analysis Ch250 Future Objectives How do our goals pare to our petitors’ goals? Where will emphasis be placed in the future? What is the attitude toward risk? Current Strategy How are we currently peting? Does this strategy support changes in the petition structure? Do we assume the future will be volatile? Are we operating under a status quo? What assumptions do our petitors hold about the industry and themselves? Assumptions Response What will our petitors do in the future? Where do we have a petitive advantage? How will this change our relationship with our petition? Capabilities What are my petitors’ strengths and weaknesses? How do our capabilities pare to our petitors? Competitor Analysis Ch251 What Are the Key Factors for Competitive Success? ? KSFs are petitive elements that most affect every industry member’s ability to prosper in the marketplace – Specific strategy elements – Product attributes – Resources – Competencies – Competitive capabilities ? KSFs spell difference between – Profit and loss – Competitive success or failure Ch252 Identifying Industry Key Success Factors ? Answers to three questions pinpoint KSFs – On what basis do customers choose between peting brands of sellers? – What must a seller do to be petitively successful what resources and petitive capabilities does it need? – What does it take for sellers to achieve a sustainable petitive advantage? ? KSFs consist of the 3 5 really major determinants of financial and petitive success in an industry Ch253 KSFs for Beer Industry ? Utilization of brewing capacity to keep manufacturing costs low ? Strong work of wholesale distributors to gain access to retail outlets ? Clever advertising to induce beer drinkers to buy a particular brand Ch254 KSFs for Apparel Manufacturing Industry ? Fashion design to create buyer appeal ? Lowcost manufacturing efficiency to keep selling prices petitive Ch255 Example: KSFs for Tin and Aluminum Can Industry ? Locating plants close to enduse customers to keep costs of shipping empty cans low ? Ability to market plant output within economical shipping distances Ch256 Strategic Management Principle A sound strategy incorporates efforts to be petent on all industry key success factors and to excel on at least one factor! Ch357 Chapter 3 The Internal Environment: Resources, Capabilities and Core Competencies Ch358 Chapter 3 Internal Environment Chapter 2 External Environment The Strategic Management Process Strategic Intent Strategic Mission Strategic Competitiveness Above Average Returns Feedback Strategy Formulation Chapter 4 BusinessLevel Strategy Chapter 5 Competitive Dynamics Chapter 6 CorporateLevel Strategy Chapter 8 International Strategy Chapter 9 Cooperative Strategies Chapter 7 Acquisitions amp。 Control Chapter 12 Strategic Leadership Chapter 13 Entrepreneurship amp。 Innovation Strategic Inputs Strategic Actions Strategic Outcomes Ch228 The Strategic Management Process Chapter 3 Internal Environment Chapter 2 External Environm