What parts of the external environment (general, industry, and competitive) segments do you think BP considered or didn’t consider prior to their drilling off the Gulf Coast? What should the wedding business owners now consider in their external environment?
Answer to relevant QuestionsHow should BP have handled an external environmental analysis and what environmental changes and trends (opportunities and threats) might they have discovered? What is value? Why is it critical for the firm to create value? How does it do so? What are core rigidities? What does it mean to say that each core competence could become a core rigidity? How can each one of the business-level strategies be used to position the firm relative to the five forces of competition in a way that helps the firm earn above-average returns? What factors affect the likelihood a firm will take a competitive action?
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