Chapter Name: Concepts of the competitive environment
Description:Analyzes external competition using models like Porter’s Five Forces.
Purpuse:To understand industry dynamics and market threats.
Rational:Informs strategic decision-making and value proposition development.
Chapters Topics
Competitive environment issues
Competitive environment issues refer to challenges faced by businesses due to the actions and strategies of competitors. These can include pricing wars, new product launches, and market saturation. Understanding these issues helps businesses adjust their strategies.
SWOT analysis of the competitive environment
SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) applied to the competitive environment helps businesses understand their position relative to competitors, identifying areas where they can capitalize on opportunities or address weaknesses.
Organisational tactics for business
Organizational tactics are strategies used by a business to compete effectively in its market. These can include market penetration strategies, innovation, cost leadership, or differentiation strategies, depending on the competitive environment.
Roles and responsibilities of team members
In a competitive environment, clearly defined roles and responsibilities within a team are crucial for effective execution of business strategies. This ensures each team member contributes to the overall success of the business.