What is a strategic group? Of what value is knowledge of the firm’s strategic group in formulating that firm’s strategy?
Answer to relevant QuestionsWhat is the importance of collecting and interpreting data and information about competitors? What practices should a firm use to gather competitor intelligence and why? What would a competitor of BP discover about them in a competitor analysis? What is outsourcing? Why do firms outsource? Will outsourcing’s importance grow in the future? If so, why? What is the relationship between a firm’s customers and its business-level strategy in terms of who, what, and how? Why is this relationship important? What is market commonality? What is resource similarity? What does it mean to say that these concepts are the building blocks for a competitor analysis?
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