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Mayo615's French Odyssey Week 21 Report - Industry Analysis

Hello! And welcome to the Week 21 Update of Mayo615’s Odyssey to France and how to turn Big Ideas into Big Realities. I am going to explain the importance of industry analysis today. Entrepreneurs always hear about the importance of market research. So what is “industry analysis” and why is it important? Very briefly, it is an area of strategic analysis that sits above market analysis and below macro-economic analysis. Much broader that a market, industry analysis considers both global and local factors, potential changes in government policy, and other external factors that may affect an industry. It can also include analysis of industry segments, emerging markets, and competitors. Industry analysis reports are commonly produced by governments, large financial services firms, and global consultancy firms. These reports are used to set economic policies, guide investment decisions, and as a strategic planning tool by companies. Why is this important to you? Market competitors and new market entrants that can anticipate these large-scale economic shifts are more likely to survive. Remember that my website, mayo615.com has over 400 posts on a wide range of management and technology topics, including industry analysis. That’s my management update for this week. We look forward to your comments and questions. We will respond to all comments and may feature comments in our update videos. If you like what you see here, recommend us to others and click here to SUBSCRIBE NOW