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External Analysis: Industry Structure, Competitive Forces, and Strategic Groups


After studying this chapter, you should be able to:

LO 3-1

Apply the PESTEL model to organize and assess the impact of external forces on the firm.

LO 3-2

Apply the structure-conduct-performance (SCP) model to explain the effect of industry structure on firm profitability.

LO 3-3

Apply the five forces model to understand the profit potential of the firm’s industry.

LO 3-4

Describe the strategic role of complements in creating positive-sum co-opetition.

LO 3-5

Understand the role of industry dynamics and industry convergence in shaping the firm’s external environment.

LO 3-6

Apply the strategic group model to reveal performance differences between clusters of firms in the same industry.











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