INDUSTRY AND COMPETITIVE ANALYSIS
5 important questions on INDUSTRY AND COMPETITIVE ANALYSIS
Limitations of Industry Classification Systems
Categories can be too broad or too narrow, grouping companies that don’t compete or separating ones that do.
2. Multi-Product Companies
Firms that operate in multiple industries get forced into one category, reducing comparability (e.g., Amazon retail vs. AWS).
3. Geography Issues
Some industries are local (healthcare, insurance), while others are global (media), so global classifications may not match real competition.
4. Grouping Changes Over Time
Systems update categories as industries evolve, disrupting historical comparisons and creating survivorship bias.
What framework do you use for internal industry analysis and explain
What framework do you use for external industry analysis and explain
E → Economic
S → Social
T → Technological
L → Legal
E → Environmental
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Explain cyclical and defensive industries
Cyclical industries involve sales of less essential items for consumers, while defensive industries involve sales of more essential items.
Competitive strategy is evaluated by how well it fits industry forces and whether the company can execute it. Please give the three strategies
In a cost leadership strategy, the firm seeks to have the lowest costs of production in its industry, offer the lowest prices, and generate enough volume to make a superior return.
In a differentiation strategy, the irm’s products and services should be distinctive in terms of type, quality, or delivery.
In a focus strategy, a niche market is targeted.
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