Audible Company Term Paper Example | Topics and Well Written Essays - 1000 words

Audible Company - Term Paper Example The business environment is defined by both external and internal factors. The external factors are beyond the business control, but they impact on the organization’s operations. The analysis of the external factors enables an organization to recognize opportunities that it can easily tap into and the threat that are restricting its operations. The Porter’s five analysis- competition, entry barriers, and buyer-supplier behavior- are very crucial when identifying the (OT) strategies (David). Conversely, the internal business environment includes all those activities that the firm can control. These factors include products produced, market share and segmentation, revenue versus cost analysis among others. The value chain identifies the factors that are used commonly used by firms in their operational activities especially the internal factors to deliver a quality product. The analysis of internal factors and value chain is thus important in establishing the strengths and weakness (SW) a firm possess in a given industry.  A firm’s elements of strategy involve an integrated set of choice that addresses how it will achieve its set objectives and goals. The key elements commonly referred to as five elements of the strategy include arenas, differentiators, vehicles, staging and economic logic. The following are the Audible’s company 5 elements of strategy:†¢ The company identified the digital platform and the use of the internet to provide content in audio format as its strategic arena.