Question

Many firms neglect industry analysis. When does this hurt them? When does it not?

Answer 1

The neglect of a company, to do an industry analysis can be almost fatal to the company since the analysis is a major factor that influences the decision making of the company when they enter a new market or when they introduce a new product.

There is only one condition where it does not hurt the company and that is when the company has a monopoly over the market, but this kind of situation is very rare and almost impossible in certain cases.