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Summary Anaysing the Industry Environment BMNG7311
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Summary for Chapter Chapter 6, Business Management 3A, 3rd Year
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Chapter 6 Analysing the industryenvironment
Introduction
• Industry analysis necessitates defining the industry, understanding industry key
success factors, the effects of industry evolution, industry structure, and competitive
and co-operative dynamics.
• Intra-industry analysis focuses on the analysis of competitors and customers in the
industry to identify opportunities for creating or protecting competitive advantage.
Industry analysis
Defining the industry
• Broad or narrow definitions can be used, both with advantages and disadvantages.
• Industry convergence constantly changes boundaries.
• Horizontal, vertical and geographic boundaries typically define the industry.
Industry key success factors
Based on the following questions:
• On what basis do customers choose
between competing brands?
• What resources and capabilities are
required by sellers?
• What does it take to achieve a competitive advantage?
Examples of industry key success factors:
• Asset utilisation (low-cost airline)
• Rate of approval of new drugs (pharmaceutical company)
• Monthly average revenue per user (cellular service provider)
, Industry key success factors in mature and declining industries
Industry key success factors in mature industries:
Cost advantage
Profitable market segments
Differentiation
Strategic innovation
Industry key success factors in technology-intensive industries
Industry key success factors:
Protection of intellectual property
Complementary products
Codification
Lead time
Industry key success factors in not-for-profit settings
Industry key success factors:
• Strategic piggybacking
• Mergers
• Strategic alliances
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