Chapter 2 Application Questions

1. Imagine yourself as the CEO of a large firm in an industry in which you are interested. Please (1) identify major trends in the general environment, (2) analyze their impact on the firm, and (3) identify major sources of information to monitor these trends. (Use Internet and library resources.)As I am striving to work in the Funeral or Death Industry as a Funeral Director, I am observing the change in our industry from traditional burial to cremation. This shift in the industry which reduces the price of a funeral by three or four thousand dollars depending on the demographic area, these trends can be followed in Funeral Industry standards such as the NAFD, a Funeral Directors Organization 2. Analyze movements across the strategic groups in the U.S. retail industry. How do these movements within this industry change the nature of competition?The retail industry is driven by young consumers. These consumers make decisions for their group by purchasing the goods and services that they want. Making the decisions changing competiton for everyone. 3. What are the major trends in the general environment that have impacted the U.S. pharmaceutical industry?More easily accessible drug information. Help with drug costs through programs from the pharmacy and the drug companies. Rewards programs. 4. Go to the Internet and look up www.kroger.com. What are some of the five forces driving industry competition that are affecting the profitability of this firm?Krogers is fighting many battles. Trying to counteract the raising costs of food for their stores by implementing rewards programs. Using their rewards program to bring the price of gas down by encouraging more spending in their stores. Trying to keep their market share from stores that are offering lower prices and similar quality or better quality products. Stores are