The competitive environment to include (pages 1.44.1.45)
competition: local, national, international level,
competitive advantage of the company
the factors that influence competitive advantage: differention, Pricing policies…..(page 1.44-45 on your text book)
3.3.1. Local, national, international competitors
3.3.2. competitive advantage of the company
3.3.3. factors that influence competitive advantage
These days, you can assume that nearly every work environment is a competitive environment. The primary source of the competition can vary from one work area to another, but there's competition from other local or area firms, from out-of-state firms and from companies located all over the world. Competition can emerge seemingly from nowhere, with the emergence of new products that replace current products with more desirable products or with products that provide the same benefits at dramatically lower costs. One oft-cited model describes the competitive environment as having five distinct elements.
3.3.4. Porter's Five Forces
Porter's analysis of the competitive environment isn't complex. On the contrary, it's straightforward and easily understood. He proposes that competition in a given industry depends upon the interaction of five separate forces. How profitable or difficult the competitive environment may be varies widely among given industries.
Producers of steel cans, for example, operate in a competitive environment which ensures that profits remain generally low. Other industries, such as manufacturers of soft drinks and toiletries, exist in competitive environments "where there is room for quite high returns."
(https://smallbusiness.chron.com/meaning-competitive-environment-24981.html)
