The industry is composed of a few large sellers and the customer group consists of numerous buyers that purchase in fairly small quantities. The company's resource strengths, resource weaknesses, and competitive capabilities Term 3. B the dominant economic features of the industry in which the company operates. C the attempts of companies in other industries to win buyers over to their own substitute products. A strategic partner's level of engagement exceeds a strategic vendor's Source: Gartner. When buyers have a high degree of loyalty to the brands and product offerings of existing industry members C.
The rivalry among competing firms tends to be more intense A. To enhance the quality of parts and components being supplied and reduce defect rates D. Since, this is such a growing industry, the field is very competitive. What factors are driving changes in your career industry, and what impact will these changes have on competitive intensity and industry profitability? Increases in the economic power and bargaining leverage of customers and suppliers, growing supplier-seller collaboration, and growing buyer-seller collaboration D. Which one of the following pairs of variables is least likely to be useful in drawing a strategic group map? Whether supplier-seller relationships in an industry represent a strong or weak source of competitive pressure is a function of A. The size of the circle that represents each corresponds to their size in the marketplace. When buyers are unlikely to integrate backward into the business of sellers B.
But it is a process laden with uncertainty and risk, a process in which executives sometimes make costly mistakes. High buyer switching costs B. Which of the following factors is not a relevant consideration in determining the strength of buyer bargaining power? Whether industry driving forces are strong or weak E. Which one of the following does not cause the rivalry among competing sellers to be weak? The variables chosen as axes for the map should indicate big differences in how rivals have positioned themselves to compete in the marketplace. Wildly successful introduction of innovative new products by one or more industry rivals that force other rivals to respond quickly or lose a major share of their customers to the innovating rival s Term 72. Population demographics and societal values and lifestyles C.
New government regulations or significant changes in government policy toward the industry Definition D. When newcomers can expect to earn attractive profits Definition E. The input being supplied is a commodity. Rivalry among competing sellers is generally more intense when A. The costs incurred by buyers in switching to competing brands or to substitute products are relatively low. D Which rivals are likely to enter new geographic markets or expand their product offerings so as to enter new market segments where they currently do not have a presence? A strategic plan looks at all the things your small business could do and narrows it down to the things it is actually good at doing.
When the item being supplied is a commodity E. Which of the following are most unlikely to qualify as driving forces? Because of the potential for location-based advantages in certain countries. On one hand, there are several people worldwide that are adapting more healthy lifestyles that consist of working out and eating better. Strategic partners help drive a level of capability, delivery and business results very different from that of legacy strategic vendors. B requires considering the costs of a company's internally performed activities. The industry can still offer good prospects for attractive profits, because there is such high demand for medical devices and equipment and there are so many device innovations creating better equipment to be distributed. Strongly differentiated products among rival sellers Definition D.
Low barriers to entry Term 16. The goal of the Financial Leadership Cohort is to develop the financial leadership capacity needed for nonprofits to be sustainable and financially healthy. What is the current market size of your career industry in units or sales? Level of profitability and size of market share Term 84. . However, there can be numerous criteria over which firms can be measured. Nearly everyone is somewhat technologically savvy now, and new technologies are being produced and sold very often.
When buyer demand for the product is growing fairly slowly D. What career strategy adjustments will be needed to deal with the impacts of the changes in industry conditions? Suppliers do have high bargaining power. B something that it lacks or does poorly in comparison to rivals. Whether needed inputs are in ample supply and are readily available from several different suppliers B. Rapid growth in buyer demand C.
When industry members pose a credible threat of backward integration into the business of suppliers B. Changing societal concerns, attitudes, and lifestyles C. A Which rivals badly need to increase their unit sales and market share and what new offensive initiatives are they likely to employ? Increasing globalization of the industry and product innovation C. Whether winning the business of prestigious customers gives a seller important market exposure and heightens its brand name B. What are the key factors for future competitive success? Substitutes are readily available at competitive prices. Sizable capital requirements and an array of regulatory requirements C.
This could drive down the demand for medical equipment and devices. When competitors are fairly equal in size and capability D. The bargaining power of suppliers and seller-supplier collaboration C. When newcomers can expect to earn attractive profits Definition E. Example of strategic group map Description of the diagram The diagram shows a square divided into quadrants with 'Immediate access' on the y-access and 'Tailored service' on the x-access. When buyers pose a major threat to integrate backward into the product market of sellers D.