Michael_A._Hitt,_R._Duane_Ireland,_Robert_E._Hosk

(Kiana) #1

2


The External Environment:


Opportunities, Threats,


Industry Competition, and


Competitor Analysis


Studying this chapter should provide
you with the strategic management
knowledge needed to:

2-1 Explain the importance of
analyzing and understanding the
firm’s external environment.
2-2 Define and describe the general
environment and the industry
environment.
2-3 Discuss the four parts of the
external environmental analysis
process.
2-4 Name and describe the general
environment’s seven segments.
2-5 Identify the five competitive forces
and explain how they determine
an industry’s profitability potential.
2-6 Define strategic groups and
describe their influence on firms.
2-7 Describe what firms need to
know about their competitors
and different methods (including
ethical standards) used to collect
intelligence about them.

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