Chapter 2: External Analysis/ Macro, Micro

Question 1

what is the process of Analysis?

Answer 1

Scanning→ Monitoring→Interpreting & Forecasting→ Assessing & Deciding

Question 2

two compositions of external environment and these examples

Answer 2

Macro-environment (economic, sociocultural, global, technological, political/legal, demographic)

Micro-Environment (competitors, industry, customers)

Question 3

what is the PEST Analysis?

Answer 3

Political/legal
Economic
Socio/Cultural
Technological

Question 4

Three types of competitive environment analysis

Answer 4

Porter’s five focus model
Industry evolution and forecasting(ILC)
Strategic groups

Question 5

four stages of industry life cycle

Answer 5

1. Emerging Industries
2. Growing Industries
3. Mature Industries
4. Declining industries