Read chapter $3$ in the class text and respond to the following questions:

$1.$ Name and describe in detail, the concept$/$management tool that a firm can use to analyze its competitors.

$2.$ Name and describe the concept that are the strategy elements, product and service attributes, operational approaches, resources, and competitive capabilities that are essential to surviving and thriving in an industry. As a follow$-$up$,$ state the related questions that can be used to determine the concept.

$3.$ Name and describe in detail, the concept$/$management tool that is the first step in analyzing and understanding how a company is situated in its external environment.