The External Environment – Chapter 3 of Mastering Strategic Management & CNBC articles posted on Canvas about Ford and Jeep (Short Answer/Mini-Essay – your submission should be approximately 500 - 600 words in total

The External Environment – Chapter 3 of Mastering Strategic Management & CNBC articles posted on Canvas about Ford and Jeep (Short Answer/Mini-Essay – your submission should be approximately 500 - 600 words in total. Some questions might be answered in 30-40 words; other questions might require 100 words or more to answer. Feel free to use your judgement! )

1. Define an industry. Are Ford and Jeep in the same industry? Why or why not?

2. What is a five-forces analysis? Describe each of the five forces. What is the underlying principle behind a five forces analysis.

3. Based on the two articles posted, which one of the five forces is strongest in terms of affecting profits, and which one is weakest? Explain.

4. What is a strategic group map? Why is it useful?

5. Draw a strategic group map of the auto industry. What strategic groups do you see? Which group has the largest market share?