Discussion Questions
Answer each question with a minimum of 100 words each. Provide references and citations after each question. Does not need to be formatted like an essay
-Consider the organization (Integrated Project Management Company https://www.ipmcinc.
-Locate an organization in the news and explain how it is trying to create value and competitive advantage in its industry/sector.
(The news article you reference should be a current article found in a reliable publication, like your local newspaper, the Wall Street Journal, Business Week magazine, etc.)
-How should BP have handled an external environmental analysis and what environmental changes and trends (opportunities and threats) might the firm have discovered?
-What would a competitor of BP now discover about the firm by completing a competitor analysis?
-Why is it important for a firm to study and understand the external environment?
-How do the five forces of competition in an industry affect its profitability potential? Explain.
-What is a strategic group? Of what value is knowledge of the firm’s strategic group in formulating that firm’s strategy?
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Discussion Question
Question 1
Understanding the remote environment could determine the chances of success of a particular investment. In this case, Integrated Project Management ought to consider the trends in the market and the extent to which people are seeking to invest. Operating as a firm that helps put ideas into actionable strategies requires an environment in which the rate of investment is relatively high. Secondly, the social factors include the lifestyles of people in the market, to help determine the appropriate approaches in actualizing different strategies while the factors of consideration under political factors would include the political stability of the region in addition to the fluid nature of policies in the business investment sector.
(834 words)