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External Analysis, G5 (林奧都 - Aldo, 廖莉琪 - Angela, 陳威霖 - Willie, 劉津綝 - Alice…

- - - - change over time
  - - - the pivotal force
      - prioritize doing something
      - very least closely monitoring
  - - - pays to keep an eye on it
  - - - as the conceptual opposite of substitutes
    - - simultaneously cooperate and compete with complement producers
  - - - risk perception
      - brand loyalty
  - - - focus on the pivotal force
      - the dynamics of how industry structure is changing
- - - - set of similar firms associated with a single product market
    - - how profitable will the industry be
    - - narrowly or broadly
        
        a matter of judgment
  - - - resource allocation
      - entry and divestment
        
        entire portfolio of product markets
      - helps to figure out intervene strategically
    - - Airline&Technologically Industry
        
        low profitability
      - Food&Pharmaceutical Industry
        
        high profitability
  - - - conduct drive performance
    - - bargaining power of supplier
      - threats of substitutes
      - threats of new entrants
      - rivalry among firms
      - bargaining power of buyer
    - - footwear industry
        
        closed shoes
        
        slippers and flip-flops manufacturer
        
        threat of substitutes
        
        all in all footwear
        
        all competitor
        
        rivalry among industry
      - English Premier League
        
        shared revenue
        
        match power
        
        TV right contracts
        
        spread tv viewership
        
        financial fair play
        
        not spending excessive money
- - - - local, state, national, regional
      - political stability
      - security
      - corruption
    - - economic growth
      - employment
      - inflation
    - - demographic trends
      - values and culture
      - individual aspirations and expectations
    - - innovation
      - business models
    - - pollution
      - environmental degradation
      - climate change
    - - jurisdictions
      - statutory provisions
    - - competes
      - complementoors
- - - - further compounded by high risk
        
        ex: new semiconductor plants, new aircraft, or car design
    - - shelf space maybe limited
      - logistics of retribution maybe difficult
    - - customers are loyal to existing products and brands
      - intangible product attributes and emotional attachment
    - - raw material access
      - favorable location
      - regulation
      - proprietary technologies and processes
    - - scope economics
        
        costs decline when multiple products are made
        
        ex: car models bulit on same platform, online retailing
      - scale economics
        
        cost decline with scale of production
        
        ex: oil refining, semi conductors, steel, software
    - - costs decline with total cumulative production overtime
        
        ex: aircraft, disk drives, LCD screens
  - - - •reputation
      - •slow growth
      - •strong firm(s)
- - - - the smaller the bargaining power
    - - the larger the bargaining power
  - - - Low market-entry barrier
        
        undifferentiated service
        
        rivalry among industry firms
        
        seats are a perishable commodity
      - Low dependence
        
        customer not really care about what airplan they choose , they care about the distination
    - - High market-entry barrier
        
        high risky investment
        
        patent protection
        
        getting regulatory clearances
        
        highly differentiated products
      - high dependence
        
        Buyers of pharmaceuticals are heavily reliant on these products for their health
  - - - Make good use of your own advantages (maximize benefits)
    - - be replaced
    - - Market segmentation
- - - - ex: Airbnb v.s. hotel industry
    - - ex: Uber v.s. taxicab industry
    - - ex: Tesla-mainstream automobile industry