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What You Need to Know about Strategy by Jo Whitehead

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CHAPTER 2

FROM THE OUTSIDE

WHAT IT'S ALL ABOUT Image

  • The importance of segmenting the industry
  • The concept of industry attractiveness
  • The macro forces that shape industries

An organisation does not operate in a vacuum. Any strategy has to fit with the characteristics of its external environment, so let's begin from the outside. Given that multiple aspects of the environment could be evaluated – customers, markets, competitors, regulations, societal trends – where should you start? Clearly, a certain amount of data is needed to familiarise yourself with the environment, but how much should you collect?

Focus on data that answer a few basic questions ...

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