Strategists using the industry-based view need to:

Question

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The industry-based view is a powerful strategic tool, which helps in identifying the competitive dynamics of an industry and the key success factors. Therefore, strategists should see it as a powerful strategic tool. Arriving at an uncritical acceptance of the traditional view is not advisable as it may hinder the ability to think creatively and identify new opportunities. Identifying the firm within an industry in a boundary-less way is not possible as firms need to have a clear understanding of their industry and the boundaries within which they operate. Avoiding strategic alliances is also not advisable as it can help firms gain access to new capabilities, technologies, or markets.

Strategists Using the Industry-Based View Need To