Question

Briefly explain about industry competition analysis.

Answer 1

Industry and competitive analysis (ICA) is a part of any strategy development in firms and other organizations. It contains a very practical set of methods to quickly obtain a good grasp of an industry, be it pharmaceuticals, information and communication technology, aluminum, or even the beer industry. The purpose of ICA is to understand factors that impact on the performance of the industry, and as well the performance of firms within the industry. Firms in an industry can be categorized in so called “strategic groups” based on the strategies they are pursuing. Each strategic group is associated with a certain level of performance, and the firms' “membership” in such groups can be used to predict their moves within the industry. Moreover, managers use ICA to allocate resources, reach strategic goals such as market share or profitability, and help their firms improve their position within the industry.

Goals of the course

Students develop an understanding of how the structure of industries impact on firm and industry-level performance

Students get familiar with, and obtain practical skills in analyzing industries and firms within them.

Students develop in-depth knowledge of one industry.

Format

The course is organized as a combination of lectures and tutored group work involving the selection and analysis of industries, analysis and development of strategies for selected competitors, and presentation of results. On each lecture day, the class room is reserved until 12:00 for this group work. You may use it if you want.

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