Create a 4 page essay paper that discusses Strategy and the Strategic Management.
Download file to see previous pages…
Knowing the firm’s external environment is important in the strategic management process because it affects how value is generated and how activities could be carried out under the influence of technological change, demographic trends, cultural trends, the economic climate, legal and political conditions, and other global events. Using the structure-conduct-performance (S-C-P) model allows a systematic analysis of the firm and its environment. This model: (1) helps a firm identify the attributes of its industry’s structure that constrains the firm’s strategic alternatives and performance, (2) helps it decide how to conduct itself by crafting the most appropriate strategies, and (3) take into account the performance of the firm, the industry, or the economy.