Intro to Business › Section A · Economic systems and business › Topic A.8
Competitive strategy and trends in the business environment
Knowing the market structure is only the start. Firms also have to decide how they will win: by being cheapest, by being different, or by serving a niche. And they must do it while the workforce, technology and the energy supply keep changing around them.
In this topic
- Analysing an industry: the five forces
- Worked example: five forces for a meal-kit start-up
- Three generic strategies
- Economies of scale and network effects
- Worked example: spreading fixed costs
- SWOT analysis
- Disruptive innovation
- A changing workforce
- Energy, relationships and alliances
- Worked example: the value of keeping customers
- Common mistakes to avoid
- Key takeaways
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