Mgmt 425 Ch3 Solution 100% Guaranteed Pass

MGMT 425 CH3 SOLUTION 100% GUARANTEED PASS A company's "macro-environment" refers to - ANSWER the strategically relevant factors outside a company's industry boundaries—economic conditions, political factors, socio-cultural forces, technological factors, environmental factors, and legal/regulatory conditions. principal components of strategic significance in the PESTEL analysis - ANSWER A. Political factors including the extent to which government intervenes in the economy B. Economic conditions that include the general economic climate and specific factors such as interest rates, inflation rate, and unemployment rate, as well as conditions in the stock and bond markets that can affect consumer confidence C. Socio-cultural forces including societal values, attitudes, cultural factors, and lifestyles that impact business D. Technological factors includes the pace of change and technical developments that have the potential for impacting society major questions to ask in thinking strategically about industry and competitive conditions in a given industry - ANSWER -What strategic moves are rivals likely to make next? -What are the industry's key factors for future competitive success? -Is the outlook for the industry conducive to providing attractive profitability? -What are the driving forces in the industry, and what impact will these changes have on competitive intensity and industry profitability? Thinking strategically about the industry and competitive environment involves in-depth analysis and evaluation of such consideration as - ANSWER the market positions of industry rivals and their relative strength, and the competitive forces rivals are facing and what impact they will have on competitive intensity and industry profitability. The most powerful and widely used tool for diagnosing the principle competitive pressures in a market is the - ANSWER Five Forces Model The competitive pressures on companies within an industry comes from those: - ANSWER -associated with the market maneuvering and jockeying for buyer patronage that goes on among rival firms in the industry. -companies in other industries attempting to win buyers over to their substitute products. -associated with the threat of new entrants into the marketplace. -associated with the bargaining power of suppliers and customers. The nature and strength of the competitive forces that prevail in an industry is generally a joint product of - ANSWER -competition from rival sellers. -competition from potential new entrants. -competition from producers of substitute products. -competitive pressures stemming from the bargaining power of both suppliers and buyers. The most powerful of the five competitive forces is USUALLY - ANSWER the competitive pressures associated with the market maneuvering and jockeying for buyer patronage that goes on among rival sellers in the industry. What makes the marketplace a competitive battlefield is - ANSWER the constant rivalry of firms to strengthen their standing with buyers and win a competitive edge over rivals. Market maneuvering among industry rivals - ANSWER is ongoing and dynamic, with moves and countermoves of rivals producing a continually evolving competitive landscape that delivers winners and losers