1. Industry Key Success Factors
a. First, know that every successful firm, competing in a market- place, displays certain characteristics (e.g., superior customer service, comfortable environment, convenient locations, etc.); list and explain these.
b. Second, explain how the firm does or does not show these characteristics, explaining why or why not.
2. Porter’s Five Forces
a. Identify & describe each of the five forces (supplier power, buyer power, competitive rivalry, threat of substitution, & threat of new entry) impacting the firm; describe the impact on the firm.
3. Strategic Analysis Firm’s Current Strategic Strategies
a. Identify, name (using the list below), and describe the current strategies being used by the firm.
b. The strategies to choose from are:
i. Cooperative strategies (e.g. alliance, joint venture, partnership, outsourcing, licensing);
ii. Intensive strategies (Market Penetration, Market Development, Product Development);
iii. Integration Strategies (Vertical / Horizontal, Forward/Backward);
iv. Diversification Strategies, Related/Unrelated;
v. Defensive Strategies (Retrenchment/Divestiture/Liquidation); or
vi. Mergers/Acquisitions. Also, consider Porter’s generic strategies: cost leader, differentiation leader, or focus strategies.)
4. Strategic Options
a. Based on the internal and external analyses, recommend some specific strategic options for the firm to consider solving the problem, capitalize on the opportunity, or resolve the issue identified. Pick from the strategies listed above. Give specific examples of actions for each strategic option the firm can deploy.