What is an industrial analysis?
- Thread starter Sean...M
- Start date
With an industry analysis, you would need to be studying a product or business to know what industry it competes in..
then when analysing an industry you would look at all the factors which drive the competitiveness
Porters 5 forces is a typical model used
it looks at bargaining power of buyers, bargaining power of suppliers, threat of new entrants into the industry, threat of substitute products and the level of existing rivalry..
they are all factors which shape the competitiveness and therefore help you analyse an industry.
I'd start with that
Maybe they want you to look a bit more at the macroenvironmental factors impacting on an industry i.e. economic, legal, political, social, technological etc..
then when analysing an industry you would look at all the factors which drive the competitiveness
Porters 5 forces is a typical model used
it looks at bargaining power of buyers, bargaining power of suppliers, threat of new entrants into the industry, threat of substitute products and the level of existing rivalry..
they are all factors which shape the competitiveness and therefore help you analyse an industry.
I'd start with that
Maybe they want you to look a bit more at the macroenvironmental factors impacting on an industry i.e. economic, legal, political, social, technological etc..