Activity: Connecting the Dots

An image of a connect the dots drawing

Required Preparation

Before this activity, please complete the following:

  1. Read the assigned reading “Industry Analysis”.
  2. Complete the corresponding Canvas quiz.

Description: This activity helps you solidify your understanding of key industry analysis concepts and make connections between them. Working in groups, you’ll randomly select five concepts from a provided set and engage in a structured discussion to explore their definitions, relationships, and real-world applications. You’ll then share your insights with the class, contributing to a collaborative learning environment.

Learning Objectives

By the end of this activity, you will be able to:

  • Recall and define key industry analysis concepts.
  • Explain the relationships between different concepts.
  • Apply the concepts to real-world business scenarios.
  • Communicate your insights effectively to the class.

Key Concepts

Industry definition Willingness-to-pay Supplier opportunity costs Five forces Bargaining power Entry barriers Exit barriers Switching costs Industry concentration Vertical integration Product differentiation Perishability Cost structure Industry growth Business model diversity Industry attractivenes Profitable positions Industry change Value creation Value capture Market power Cost advantage Holdup

Steps:

  1. Concept Selection: Each group will randomly select five concepts from the set of concepts listed.

  2. Group Discussion: Discuss the following for each of the five selected concepts:
    • Definition: Define the concept in your own words.
    • Connection to Industry Analysis: Explain how this concept relates to the overall process of industry analysis.
    • Relationships: Identify any connections or relationships between this concept and other concepts in the set. Summarize why it matters.
    • Real-world Example: Provide a real-world example of how this concept applies in a business setting.
  3. Visual Representation: Create a visual representation (e.g., mind map, concept map) to illustrate the connections between the five concepts.
  4. Class Presentation: Share your group’s insights and visual representation with the rest of the class.

Self-assessment:

  • Active participation in group discussions.
  • Clarity and depth of insights shared during the class presentation.