What's it: The industry life cycle is the series of an industry's evolution over time. That usually includes the introduction, growing, shakeout,
Porter's five forces refer to the five elements that determine a market or industry's competition and profits. Michael Porter first described it in
The business environment is getting more dynamic in recent years. Technology, consumer tastes, and international policies change at a quick pace. The
What's it: A resource is something we use to function and operate effectively. It may have physical substances such as money and material or
Strategic management talks about how a company can achieve its long-term goals. Competition is increasingly dynamic, and challenges are changing.
A company achieves strategic competitiveness when it is successful in formulating and implementing a value creation strategy. That is the definition,
Market structure refers to the characteristics of market organizations that determine the behavior of companies in an industry. It determines the