Strategic Management Chapter 3 Notes

THE EXTERNAL ASSESSMENT

I. THE NATURE OF AN EXTERNAL AUDIT
The purpose of an external audit is to develop a finite list of opportunities that ould !enefit a
fir" and avoid threats.
A. #e$ External Fores
%. External fores an !e divided into five !road ate&ories' (%) eono"i fores* (+)
soial, ultural, de"o&raphi, and natural environ"ent fores* (-) politial,
&overn"ental, and le&al fores* (.) tehnolo&ial fores* and (/) o"petitive fores.
+. External trends and events si&nifiantl$ affet all produts, servies, "ar0ets, and
or&ani1ations in the 2orld.
-. 3han&es in external fores translate into han&es in onsu"er de"and for !oth
industrial and onsu"er produts and servies. An exa"ple of this is the rise of the U.4.
une"plo$"ent rate in 5une +667 to over 7 perent.
8. The 9roess of 9erfor"in& an External Audit
%. The proess of perfor"in& an external audit "ust involve as "an$ "ana&ers and
e"plo$ees as possi!le.
+. To perfor" an external audit, a o"pan$ first "ust &ather o"petitive intelli&ene and
infor"ation a!out soial, ultural, de"o&raphi, environ"ental, eono"i, politial,
le&al, &overn"ental, and tehnolo&ial trends.
a. Individuals an !e as0ed to "onitor various soures of infor"ation suh as 0e$
"a&a1ines, trade :ournals, and ne2spapers.
!. The Internet is another soure for &atherin& strate&i infor"ation, as are orporate,
universit$, and pu!li li!raries.
. 4uppliers, distri!utors, salespersons, usto"ers, and o"petitors represent other
soures of vital infor"ation.
-. One infor"ation is &athered, it should !e assi"ilated, evaluated, and prioriti1ed.
.. #e$ external fators should !e i"portant to ahievin& lon& ter" and annual o!:etives,
"easura!le, applia!le to all o"petin& fir"s, and hierarhial in the sense that so"e
2ill pertain to the overall o"pan$ 2hile others 2ill !e "ore narro2l$ foused.
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Strategic Management Chapter 3 Notes
II. THE INDU4TRIAL OR=ANI>ATION (I?O) @IEA
A. External Fators versus Internal Fators
%. External fators are "ore i"portant than internal fators in a fir" ahievin& o"petitive
advanta&e. Or&ani1ational perfor"ane is pri"aril$ deter"ined !$ industr$ fores.
+. ;ana&in& strate&iall$ fro" the I?O perspetive entails fir"s strivin& to o"pete in
attrative industries, avoidin& 2ea0 or falterin& industries, and &ainin& a full
understandin& of 0e$ external fator relationships.
8. Fators Affetin& Fir" 9erfor"ane
%. Fir" perfor"ane is pri"aril$ !ased on industr$ properties suh as eono"ies of sale,
!arriers to "ar0et entr$, produt differentiation, and level of o"petitiveness.
+. The &lo!al eono"i reessionBs i"pat on !oth stron& and 2ea0 fir"s has added
redene to the notion that external fores are "ore i"portant than internal. ;an$
thousands of internall$ stron& fir"s in +66<C+66D disappeared in +66EC+667.
III. E3ONO;I3 FOR3E4
A. Eono"i Fators Have a Diret I"pat
%. Eono"i fators have a diret i"pat on the potential attrativeness of various
strate&ies. For exa"ple, if interest rates rise, then funds needed for apital expansion
!eo"e "ore ostl$ or unavaila!le.
+. The 0e$ eono"i varia!les that a fir" should "onitor inlude' (%) shifts to a servie
eono"$ in the United 4tates* (+) availa!ilit$ of redit* (-) level of disposa!le ino"e*
(.) propensit$ of people to spend* (/) interest rates* (<) inflation rate* (D)
une"plo$"ent trends* and so on.
-. Trends in the dollarBs value have si&nifiant and uneFual effets on o"panies in
different industries and in different loations. For exa"ple, the phar"aeutial,
touris", entertain"ent, "otor vehile, aerospae, and forest produts industries !enefit
&reatl$ 2hen the dollar falls a&ainst the $en and euro. A&riultural and petroleu"
industries are hurt !$ the dollarBs rise a&ainst the urrenies of U4, U#, 3anada
.. Risin& une"plo$"ent rates aross the United 4tates and 5a"aia has touhed off a rae
a"on& states to attrat !usinesses 2ith tax !rea0s and finanial inentives.
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/. The slu"pin& eono"$ 2orld2ide and depressed pries of assets have dra"atiall$
slo2ed the "i&ration of people fro" ountr$ to ountr$ and fro" the ities to the
su!ur!s. As a result, there is lo2er de"and for ne2 or used ho"es.
I@. 4O3IAL, 3ULTURAL, DE;O=RA9HI3, AND NATURAL EN@IRON;ENT FOR3E4
A. 4oial, 3ultural, De"o&raphi, and Environ"ental I"pat
%. 4oial, ultural, de"o&raphi, and environ"ental han&es have a "a:or i"pat on
virtuall$ all produts, servies, "ar0ets, and usto"ers.
+. 4oial, ultural, de"o&raphi, and environ"ental trends are shapin& the 2a$ people
live, 2or0, produe, and onsu"e. Ne2 trends are reatin& a different t$pe of
onsu"er and, onseFuentl$, a need for different produts, servies, and strate&ies.
@. 9OLITI3AL, =O@ERN;ENTAL, AND LE=AL FOR3E4
A. The =overn"ent are "a:or re&ulators, dere&ulators, su!sidi1ers, e"plo$ers, and usto"ers
of or&ani1ations. 9olitial, &overn"ental, and le&al fators, therefore, an represent 0e$
opportunities or threats for !oth s"all and lar&e or&ani1ations.
%. For industries and fir"s that depend heavil$ on &overn"ent ontrats or su!sidies,
politial foreasts an !e the "ost i"portant part of an external audit.
+. 3han&es in patent la2s, antitrust le&islation, tax rates, and lo!!$in& ativities an affet
fir"s si&nifiantl$.
-. In the fae of a deepenin& &lo!al reession, ountries 2orld2ide are resortin& to
protetionis" to safe&uard their o2n industries. ;an$ eono"ists point out that the
urrent rash of trade onstraints 2ill "a0e it harder for &lo!al eono"i &ro2th to
reover fro" the &lo!al reession.
.. =overn"ents are ta0in& ontrol of "ore and "ore o"panies as the &lo!al eono"i
reession ripples fir"s onsidered vital to the nationBs finanial sta!ilit$. As "ore and
"ore o"panies around the 2orld aept &overn"ent !ailouts, those o"panies are
!ein& fored to "arh to priorities set !$ politial leaders.
8. Loal and entral &overn"ent, and speial interest &roups an have a "a:or i"pat on the
strate&ies of s"all, lar&e, forCprofit, and nonprofit or&ani1ations.
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@I. TE3HNOLO=I3AL FOR3E4
A. Revolutionar$ tehnolo&ial han&es and disoveries are havin& a dra"ati i"pat on
or&ani1ations.
%. ;$4pae expets a %D perent inrease in revenue in +667. Nearl$ half of the
siteBs %-6 "illion "e"!ers 2orld2ide are -/ and older, and D< "illion of the
"e"!ers are fro" the United 4tates.
+. The Internet is han&in& the ver$ nature of opportunities and threats !$ alterin& the
life $les of produts, inreasin& the speed of distri!ution, reatin& ne2 produts
and servies, erasin& li"itations of traditional &eo&raphi "ar0ets, and han&in&
the historial tradeCoff !et2een prodution standardi1ation and flexi!ilit$.
-. To effetivel$ apitali1e on infor"ation tehnolo&$, a nu"!er of or&ani1ations are
esta!lishin& t2o ne2 positions in their fir"s' hief infor"ation offier (3IO) and
hief tehnolo&$ offier (3TO). This trend reflets the &ro2in& i"portane of
infor"ation tehnolo&$ (IT) in strate&i "ana&e"ent.
8. Tehnolo&ial fores represent "a:or opportunities and threats that "ust !e onsidered in
for"ulatin& strate&ies.
%. Tehnolo&ial advane"ents an dra"atiall$ affet or&ani1ationsB produt,
servies, "ar0ets, suppliers, distri!utors, o"petitors, usto"ers, "anufaturin&
praties, and o"petitive position.
+. Tehnolo&$ "ana&e"ent is one of the 0e$ responsi!ilities of strate&ists. Fir"s
should pursue strate&ies that ta0e advanta&e of tehnolo&ial opportunities to
ahieve sustaina!le, o"petitive advanta&es in the "ar0etplae.
-. Not all setors of the eono"$ are affeted eFuall$ !e tehnolo&ial develop"ents.
A reent Wall Street Journal artile detailed ho2 2ireless tehnolo&$ 2ill han&e
%6 partiular industries.
@II. 3O;9ETITI@E FOR3E4
A. An i"portant part of an external audit is identif$in& rival fir"s and deter"inin& their
stren&ths, 2ea0nesses, opportunities, threats, o!:etives, and strate&ies. 3olletin& and
Evaluatin& infor"ation on o"petitors is essential for suessful strate&$ for"ulation.
8. 4even onepts desri!e the "ost o"petitive o"panies'
%. ;ar0et share "atters.
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+. Understand and re"e"!er preisel$ 2hat !usiness $ou are in.
-. Ahether itBs !ro0e or not, fix it.
.. Innovate or evaporate.
AFuisition is essential to &ro2th.
/. 9eople "a0e a differene.
<. There is no su!stitute for Fualit$.
3. 3o"petitive Intelli&ene (3I) 9ro&ra"s
%. 3I, as for"all$ defined !$ the 4oiet$ of 3o"petitive Intelli&ene 9rofessionals (43I9),
is a s$ste"ati and ethial proess of &atherin& and anal$1in& infor"ation a!out the
o"petitionBs ativities and &eneral !usiness trends to further a !usinessBs o2n &oals.
+. =ood 3I in !usiness, as in the "ilitar$, is one of the 0e$s to suess. The "ore
infor"ation and 0no2led&e a fir" an o!tain a!out o"petitors, the "ore li0el$ it an
for"ulate and i"ple"ent effetive strate&ies.
-. Three stron& "isoneptions a!out !usiness intelli&ene prevail a"on& U.4. exeutives
toda$'
a. Runnin& an intelli&ene pro&ra" reFuires lots of people, o"puters, and other
resoures.
!. 3olletin& intelli&ene a!out o"petitors violates antitrust la2s* !usiness
intelli&ene eFuals espiona&e.
. Intelli&ene &atherin& is an unethial !usiness pratie.
.. The Internet has !eo"e an exellent "ediu" for &atherin& o"petitive intelli&ene.
/. Fir"s need an effetive 3I pro&ra". The three !asi o!:etives of a 3I pro&ra" are (%)
to provide a &eneral understandin& of an industr$ and its o"petitors, (+) to identif$
areas in 2hih o"petitors are vulnera!le and to assesses the i"pat strate&i ations
2ould have on o"petitors, and (-) to identif$ potential "oves that a o"petitor "i&ht
"a0e that 2ould endan&er a fir"Bs position in the "ar0et.
<. 3o"petitive infor"ation is eFuall$ applia!le for strate&$ for"ulation, i"ple"entation,
and evaluation deisions.
D. Unethial tatis suh as !ri!er$, 2iretappin&, and o"puter !rea0Cins should never !e
used to o!tain infor"ation.
D. ;ar0et 3o""onalit$ and Resoure 4i"ilarit$
%. 3o"petitors are fir"s that offer si"ilar produts in the sa"e "ar0et.
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+. ;ar0ets an !e &eo&raphi, produt areas, or se&"ents.
-. ;ar0et o""onalit$ an !e defined as the nu"!er and si&nifiane of "ar0ets that a
fir" o"petes in 2ith rivals.
.. Resoure si"ilarit$ is the extent to 2hih the t$pe and a"ount of a fir"Bs internal
resoures are o"para!le to a rival.
@III. 3O;9ETITI@E ANALG4I4' 9ORTERB4 FI@ECFOR3E4 ;ODEL
A. 9orterBs FiveCFores ;odel
%. 9orterBs FiveCFores ;odel of o"petitive anal$sis is a 2idel$ used approah for
developin& strate&ies in "an$ industries. Fi&ure -C- illustrates 9orterBs FiveCFores
;odel. The intensit$ of o"petition a"on& fir"s varies 2idel$ fro" industr$ to
industr$.
+. Aordin& to 9orter, the nature of o"petitiveness in a &iven industr$ an !e vie2ed as
a o"posite of five fores'
a. Rivalr$ a"on& o"petitive fir"s.
!. 9otential entr$ of ne2 o"petitors.
. 9otential develop"ent of su!stitute produts.
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d. 8ar&ainin& po2er of suppliers.
e. 8ar&ainin& po2er of onsu"ers.
-. These three steps an reveal 2hether o"petition in a &iven industr$ is suh that a fir"
an "a0e an aepta!le profit'
a. Identif$ 0e$ aspets or ele"ents of eah o"petitive fore that i"pat the fir".
!. Evaluate ho2 stron& and i"portant eah ele"ent is for the fir".
. Deide 2hether the olletive stren&th of the ele"ents is 2orth the fir"
enterin& or sta$in& in the industr$.
.. Rivalr$ a"on& 3o"petin& Fir"s
a. Usuall$ the "ost po2erful of the five o"petitive fores.
!. The strate&ies pursued !$ one fir" an !e suessful onl$ to the extent that
the$ provide o"petitive advanta&e over the strate&ies pursued !$ rival fir"s.
. FreeCflo2in& infor"ation on the Internet is drivin& do2n pries and inflation
2orld2ide.
d. The intensit$ of rivalr$ a"on& o"petin& fir"s tends to inrease as the nu"!er
of o"petitors inreases.
/. 9otential Entr$ of Ne2 3o"petitors
a. Ahenever ne2 fir"s an easil$ enter a partiular industr$, the intensit$ of
o"petitiveness a"on& fir"s inreases.
!. Despite nu"erous !arriers to entr$, ne2 fir"s so"eti"es enter industries 2ith
hi&herCFualit$ produts, lo2er pries, and su!stantial "ar0etin& resoures.
<. 9otential Develop"ent of 4u!stitute 9roduts
a. In "an$ industries, fir"s are in lose o"petition 2ith produers of su!stitute
produts in other industries.
!. 3o"petitive pressures arisin& fro" su!stitute produts inrease as the relative
prie of su!stitute produts delines and as onsu"ersB s2ithin& osts
derease.
D. 8ar&ainin& 9o2er of 4uppliers.
a. The !ar&ainin& po2er of suppliers affets the intensit$ of o"petition in an
industr$, espeiall$ 2hen there are a lar&e nu"!er of suppliers, 2hen there are
onl$ a fe2 &ood su!stitute ra2 "aterials, or 2hen the ost of s2ithin& ra2
"aterials is espeiall$ ostl$.
!. Fir"s "a$ pursue a !a02ard inte&ration strate&$ to &ain ontrol or o2nership
of suppliers. Ho2ever, in "an$ industries it is "ore eono"ial to use outside
suppliers of o"ponent parts than to selfC"anufature ite"s.
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. In "ore and "ore industries, sellers are for&in& strate&i partnerships 2ith
selet suppliers to' %) redue inventor$ and lo&istis osts* +) speed the
availa!ilit$ of nextC&eneration o"ponents* -) enhane the Fualit$ of the parts
and o"ponents !ein& supplied and redue defet rates* and .) sFuee1e out
i"portant ost savin&s.
E. 8ar&ainin& 9o2er of 3onsu"ers.
a. Ahen usto"ers are onentrated, lar&e, or !u$ in volu"e, their !ar&ainin& po2er
represents a "a:or fore affetin& intensit$ of o"petition in an industr$.
!. In partiular, onsu"ers &ain inreasin& !ar&ainin& po2er under the follo2in&
iru"stanes'
o If the$ an inexpensivel$ s2ith to o"petin& !rands or su!stitutes.
o If the$ are partiularl$ i"portant to the seller.
o If sellers are stru&&lin& in the fae of fallin& onsu"er de"and.
o If the$ are 2ell infor"ed a!out sellersB produts, pries, and osts.
o If the$ have disretion in 2hether and 2hen the$ purhase the produt.
IX. 4OUR3E4 OF EXTERNAL INFOR;ATION
A. A 2ealth of infor"ation is availa!le to or&ani1ations fro" !oth pu!lished and unpu!lished
soures.
%. Unpu!lished soures inlude usto"er surve$s, "ar0et researh, speehes at
professional and shareholdersB "eetin&s, television pro&ra"s, intervie2s, and
onversations 2ith sta0eholders.
+. 9u!lished soures of strate&i infor"ation inlude periodials, :ournals, reports,
&overn"ent dou"ents, a!strats, !oo0s, diretories, ne2spapers, and "anuals.
8. Ae! 4ites for &atherin& strate&i infor"ation'

X. FORE3A4TIN= TOOL4 AND TE3HNIHUE4
A. Foreasts
%. Foreasts are eduated assu"ptions a!out future trends and events.
+. Foreastin& is a o"plex ativit$ due to fators suh as tehnolo&ial innovation,
ultural han&es, ne2 produts, i"proved servies, stron&er o"petitors, shifts in
&overn"ent priorities, han&in& soial values, unsta!le eono"i onditions, and
unforeseen events.
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-. Foreastin& tools an !e !roadl$ ate&ori1ed into t2o &roups' Fuantitative tehniFues
and Fualitative tehniFues.
a. Huantitative foreasts are "ost appropriate 2hen histori data are availa!le and
2hen the relationships a"on& 0e$ varia!les are expeted to re"ain the sa"e in the
future. Linear re&ression, for exa"ple, is !ased on the assu"ption that the future
2ill !e :ust li0e the past.
!. Aurate foreasts an provide "a:or o"petitive advanta&es for or&ani1ations.
Ho2ever, no foreast is perfet, and so"e are 2ildl$ inaurate.
8. ;a0in& Assu"ptions
%. 8$ identif$in& future ourrenes that ould have a "a:or effet on the fir" and "a0in&
reasona!le assu"ptions a!out those fators, strate&ists an arr$ the strate&iC
"ana&e"ent proess for2ard.
+. Assu"ptions are needed onl$ for future trends and events that are "ost li0el$ to have a
si&nifiant effet on the o"pan$Bs !usiness.
-. Fir"s that have the !est infor"ation &enerall$ "a0e the "ost aurate assu"ptions,
2hih an lead to "a:or o"petitive advanta&es.
XI. INDU4TRG ANALG4I4' THE EXTERNAL FA3TOR E@ALUATION
(EFE) ;ATRIX
A. An EFE ;atrix
%. An EFE ;atrix allo2s strate&ists to su""ari1e and evaluate eono"i, soial, ultural,
de"o&raphi, environ"ental, politial, &overn"ental, le&al, tehnolo&ial, and
o"petitive infor"ation.
+. There are five steps in developin& an EFE ;atrix as illustrated on pa&e E6 Ta!le -C%+.
a. List 0e$ external fators as identified in the externalCaudit proess. Inlude a total
of %6C+6 fators fro" !oth the opportunities and threats.
!. Assi&n to eah fator a 2ei&ht fro" .6 (not i"portant) to %.6 (ver$ i"portant).
These 2ei&hts sho2 the relative i"portane. The total of all the 2ei&hts should
eFual %.6.
. Assi&n a %C. ratin& to eah fator to indiate ho2 effetivel$ the fir"Bs urrent
response strate&$ is' % I the response is poor, + I the response is avera&e, - I the
response is a!ove avera&e, and . I the response is superior.
d. ;ultipl$ eah fatorBs 2ei&ht !$ its ratin& to &et a 2ei&hted sore.
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e. 4u" the 2ei&hted sores for eah varia!le to deter"ine the total 2ei&hted sore
for the or&ani1ation.
XII. THE 3O;9ETITI@E 9ROFILE ;ATRIX (39;)
A. The 39; ;atrix
%. The 39; identifies a fir"Bs "a:or o"petitors and their partiular stren&ths and
2ea0nesses in relation to a sa"ple fir"Bs strate&i position.
+. Refer to pa&es E% and E+ of text for exa"ples of 39; "atrix
-. There are so"e i"portant differenes !et2een the EFE and 39;. First, the ritial
suess fators in a 39; are !roader. These fators are also not &rouped into
opportunities and threats as in the EFE. In a 39;, the ratin&s and 2ei&hted sores an
!e o"pared to rival fir"s.
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ANSWER TO Assurance Learning Exercise 3A
Althou&h ans2ers 2ill var$, the follo2in& provides the steps and an exa"ple of 2hat an EFE ;atrix
for ;Donalds should loo0 li0e.
Five 4teps for Developin& an EFE ;atrix'
%) List external fators.
+) Assi&n a 2ei&ht fro" 6C% 2ith 6 !ein& not i"portant and % !ein& ver$ i"portant. The total 2ei&hts
assi&ned "ust eFual %.
-) Assi&n a %C. ratin& to eah external fator !ased on effetiveness of urrent strate&$. % I 9oor, + I
Avera&e, - I A!ove avera&e, and . I 4uperior.
.) 3alulate 2ei&ht J ratin&.
/) 4u". The hi&hest sore is . 2hile the lo2est is %. The avera&e is +./.
OPPORTUNITIES Weight Rating
Weighted
Score
O%' Antiipated .K &ro2th rate in H4R industr$. 6.6< - 6.%E
O+' Lo2 fat, lo2 alorie, health$ ha"!ur&er L first on "ar0et. 6.6D % 6.6D
O-' ;an$ restaurants have outdated appearane. 6.6< - 6.%E
O.' Respond to soial han&es !$ health$ food innovations. 6.6. - 6.%+
O/' Inreased !evera&e options (=our"et offees). 6.6< - 6.%E
O<' 8rea0fast not availa!le at +/K of loations. 6.6< - 6.%E
OD' 5oint ventures 2ith retailers an plae ne2 loations in
hi&h traffi areas at lo2er apital ost. 6.6- . 6.%+
OE' 3ontinued fous on orporate soial responsi!ilit$. 6.6+ + 6.6.
O7' IntBl expansion into e"er&in& "ar0ets. 6.6< - 6.%E
O%6' Diversif$ portfolio. 6.6- + 6.6<
THREATS Weight Rating
Weighted
Score
T%' ;ore health onsious usto"ers. 6.6D - 6.+%
T+' @ulnera!ilit$ in older, esta!lished "ar0ets to "odern
upstarts. 6.6. - 6.%+
T-' =lo!al eono"i reession I redued onsu"er spendin&. 6.6< . 6.+.
T.' ;ar0ets in U4 and EU are "ature and saturated. 6.6D - 6.+%
T/' 4u!2a$ and GU;M 8rands expandin& into developin&
"ar0ets at a hi&her rate. 6.6< + 6.%+
T<' Liti&ation 6.6- - 6.67
9repared !$ Nordia 3a"p!ell, ;8A
+6%+ ;a$ %< Extrated fro" 4trate&i ;ana&e"ent, 3onepts and 3ases %-
th
edition, Fred R.
David
Strategic Management Chapter 3 Notes
TD' 8rand eFuit$ at ris0' E6K of restaurants o2ned !$
franhisees. 6.6. - 6.%+
TE' 3onta"ination of the food suppl$ ould da"a&e sales,
reputation, et. 6.6. . 6.%<
T7' Intense prie pressure fro" o"petitors. 6.6D . 6.+E
T%6' Ne&ative pu!li opinion a"pai&ns. 6.6- + 6.6<
TOTAL !"## $"%$
ANSWER TO Assurance o& Learning Exercise 3'
List ritial suess fators identified in the internal and external anal$sis.
Assi&n to eah fator a 2ei&ht fro" .6 (not i"portant) to %.6 (ver$ i"portant). These 2ei&hts sho2
the relative i"portane. The total of all the 2ei&hts should eFual %.6.
Assi&n a %C. ratin& to eah fator to desri!e the fator' %I "a:or 2ea0ness, + I "inor 2ea0ness,
- I "inor stren&th, and . I "a:or stren&th.
;ultipl$ eah fatorBs 2ei&ht !$ its ratin& to &et a 2ei&hted sore.
4u" the 2ei&hted sores for eah varia!le to deter"ine the total 2ei&hted sore for the
or&ani1ation.
Do the sa"e for one or "ore o"petin& or&ani1ations usin& the sa"e ritial suess fators and
2ei&hts.
Mc'ona(d)s *UM+ ,rands ,urger -ing
.ritica( Success /actors Weight Rating Score Rating Score Rating Score
=lo!al 9resene 6.%- . 6./+ - 6.-7 + 6.+<
;ar0et 4hare 6.6D . 6.+E - 6.+% - 6.%.
9rodut Hualit$ 6.67 - 6.+D + 6.%E . 6.-<
3usto"er 4atisfation 6.6E + 6.%< - 6.+. . 6.-+
Finanial 4ta!ilit$ 6.%. . 6./< + 6.+E - 6..+
Tehnolo&$ 6.6E . 6.-+ - 6.+. - 6.%<
9rodut Develop"ent 6.6/ . 6.+6 - 6.%/ + 6.%6
8rand A2areness 6.%< . 6.<. - 6..E - 6.-+
9rie 3o"petitiveness 6.%- . 6./+ - 6.-7 - 6.+<
Diversifiation 6.6D - 6.+% . 6.+E - 6.%.
TOTALS !"## 3"01 $"12 $"21
9repared !$ Nordia 3a"p!ell, ;8A
+6%+ ;a$ %< Extrated fro" 4trate&i ;ana&e"ent, 3onepts and 3ases %-
th
edition, Fred R.
David