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Chapter 4 by Mind Map: Chapter 4

1. 2. Able to make Strategic Group Map

2. Analyse the forces and come up with Strategic Forces; S,W

3. Identifying External Factors

3.1. Natural Environment

3.1.1. Wildlife, Climate, Earth

3.2. Societal Environment

3.2.1. Economic

3.2.2. Technological

3.2.3. Political-Legal

3.2.4. Sociocultural

4. Strategic Importance of External Environment (scanning the Societal Environment: STEEP)

4.1. What are in STEEP

4.1.1. Sociocultural

4.1.1.1. 8 Current Trends

4.1.1.1.1. 1. Increase Environment Awareness

4.1.1.1.2. 2. Growing Health Consciousness

4.1.1.1.3. 3. Expanding Seniors marker

4.1.1.1.4. 4. Impact of Millennials

4.1.1.1.5. 5. Declining mass market

4.1.1.1.6. 6. Changing pace and location of life

4.1.1.1.7. 7. Changing household composition

4.1.1.1.8. 8. Increasing Diversity; workforce, market

4.1.2. Technological

4.1.2.1. Technologies impact industries

4.1.2.1.1. 1. Portable Info Devices

4.1.2.1.2. 2. Alternative Energy sources (Wind, solar)

4.1.2.1.3. 3. Precision Farming > Use tech in Farm

4.1.2.1.4. 4. Virtual Assistant

4.1.2.1.5. 5. Genetically Altered Organic

4.1.2.1.6. 6. Smart, Mobile Robots

4.1.3. Economics

4.1.4. Ecological

4.1.5. Political-Legal

4.2. Scanning the Task Environment

4.2.1. Who will do this?

4.2.1.1. Mostly, people who involve with the market, customers, and environment aka Marketers

5. Industrial Analysis

5.1. Using Business Tools Porter's Approach

5.1.1. 1. Threat of New Entrants

5.1.2. 2. Rivalry among Existing

5.1.3. 3. Threat of Substitute G/S

5.1.4. 4. The Bargaining Power of Buyers

5.1.5. 5. The Bargaining Power of Suppliers

5.1.6. 6. The Relative Power of Other Stakeholders

6. Industry Evaluation

6.1. NEW

6.1.1. Fragmented - Serve just small piece in the market

6.2. OLD

6.2.1. Consolidate - Large firm struggle w/ differentiate

7. Categorise Int Industries

7.1. Able to differ Multidomestic and Global

7.2. Strategic Groups

7.2.1. 1. Understanding Competitors in the market

7.3. Strategics Types

7.3.1. 1. Defenders

7.3.2. 2. Prospectors

7.3.3. 3. Analysers

7.3.4. 4. Reactors