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Impact of the Five Forces as a tool for shaping industry competition and strategy

To prepare for this Assignment, review “Nokia and the Smartphone Industry” on page 22 of Dyer, Godfrey, Jensen, and Bryce (2016), and complete a personal version of the Rivalry Strategy Tool provided on page 41 of the text. Be sure to consider the potential impact of the Five Forces as a tool for shaping industry competition and strategy development. Submit a 3- to 5-page analysis of the influence of market selection in business strategy development. Your analysis should address the following: · What is the intensity of rivalry—high, medium, or low—within the smartphone manufacturing industry? Explain your answer using the Rivalry Strategy Tool. · What is the intensity of supplier power—high, medium, or low—within the smartphone industry? Explain your answer using the Rivalry Strategy Tool. · What is the importance of correctly identifying and choosing a firm’s industries and markets? Justify your answer with at least one example. · How does accounting for gaining and sustaining competitive advantage impact the success of business strategy development? Explain.

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