Tuesday 19 November 2013

THIRD WEEK – STRATEGIC MANAGEMENT

Assalamualaikum,
Today Miss Ummi giving explanation about Evaluating a company’s external environment which is in topic 3. Its quite challenging for this topic. But this topic is interesting to study.This topic consist about the basic concepts and analytical tools widely used to diagnose the competitive conditions in a company’s industry, study about market positions of key groups of industry rivals, and how to use multiple frameworks to determine whether an industry’s outlook presents a company with sufficiently attractive opportunity for growth and profitability.We will learn how to create business strategy in this topic.

In this topic i learned about th PESTEL analysis which is focuses on the six principal components of strategic significance in the macro-environment.


Finally, Miss Ummi has teaching us about the five competitive forces in industry which are, competition from rivals sellers, competition from potential new entrants, competition from producers of substitute products, supplier bargaining power and customer bargaining power.


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