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11257To prepare for this Assignment, review “State Farm Adjusts to a Changing World” on pages 17-18 of Dyer, Godfrey, Jensen, and Bryce (2020), and complete a personal version of the Strategy Tool provided on page 39-42 of the text. Be sure to consider the potential impact of the Five Forces as a tool for shaping industry competition and strategy development.
BY DAY 7
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 industry? Explain your answer using the Rivalry Strategy Tool.
* What is the intensity of supplier power—high, medium, or low—within the 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.
**I do not have the textbook, however the text that is reference can be googled online**
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