UGRD-MGT6370A Strategic Management

Midterm quiz 2

Enumerate the Porter's Five Forces.

competition in the industry, potential of new entrants into an industry, power of supp
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Question 2
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It implies the process of critically examining the factors that highly influence the business, as
all the factors identified in the previous step effects the entity with the same intensity.

Scanning
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It is a model that identifies and analyzes five competitive forces that shape every industry
and helps determine an industry's weaknesses and strengths.
 Porter's Five Forces
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What are the Steps Involved in Environmental analysis?
identifying, Scanning, Analyzing, Forecasting
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It focuses on providing a product or service that is perceived as being unique and hard to
replicate.

Differentiation Strategy
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It is the methodical evaluation of the key internal features of an organization and recognizes
and assesses resources, capabilities, and core competencies.

Internal Analysis
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It has vital role in businesses by indicating current and potential opportunities or threats
outside the company in its external environment.

Environmental Analysis
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It is a strategy which focuses on reducing the costs involved in providing a product or
service.
 Cost Leadership
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