Briefly describe and discuss industry analysis and the motivation behind it
What will be an ideal response?
Answer: Industry analysis
1. focuses on the activities of one of more industries.
2. looks at the competitive position of an industry in relation to other industries.
3. seeks answers to questions such as: How is the industry regulated? What role does labor play in the industry? What economic forces are especially important to the industry?
4. facilitates research by using published reports such as the S&P Industry Surveys.
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Risk avoidance leads buyers to stay with the current vendor rather than switching
Indicate whether the statement is true or false
In addition to "selling" their vision, top management at both Whirlpool and GE face the formidable task of building:
A) their company stature. B) physical layout and design. C) a cadre of globally oriented managers. D) a cadre of loyal customers. E) access to distribution channels.