SGMT 3000 Chapter Notes - Chapter 2: Endangerment, Oligopoly, Breakcore

• School: York University
• Department: Strategic Management
• Course: SGMT 3000
• Professor: Stan Xiao Li

Document Summary

Need to identify opportunities and threats confronting the firm. Overview: opportunities: elements that allow a firm to formulate and implement strategies that enable it to become more profitable (increasing demand, threats: elements that can endanger the integrity and profitability of company"s business (competition) Industry: group of companies that offer products/services that are close substitutes for each other: satisfy the same basic customer needs, managers need to take a customer-oriented view of their business to commence an external analysis. Basic customer needs that are served by a market define an industry"s boundaries. Sector: group of closely related industries: ex: computer sector includes computer component, hardware, and software industries, companies in the computer component industries are suppliers for hardware industry firms. Market segments: distinct groups of customers within a market that can be differentiated on basis of individual attributers and specific demands: customers in these segments share a common need. Change as customer needs evolve and new tech. emerge.