Questions to think about
Can you identify PEST forces/elements that represent threats or opportunities and
explain how they affect a firm’s ability to achieve any or all of the critical success
factors? Come up with at least one element from each PEST factor for each critical
success factor, i.e an element from each of P-E-S and T that affects the firm’s ability
to gain employee commitment
Why is it an improvmnt over previous conceptions of industry profitability?
What are the forces and what determines the power/effect of each force
What impact does each force have on industry profitability? Be specific about
how the force affecrs profitability, what kind of costs does it creares, or how
it affects revenues
What can a firm do to reduce the impact of each force
What kinds of strategic questions can I help answer using five forces
How does five forces apply to services?
What is the benefit of doing ut?
Why is it challenging? Why do managers resist doing it?