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1. Considering the evidence relevant to each of the Five Forces relevant to the iron ore industry discussed in the case, do you consider it an attractive industry to invest in? (Approximately 400 words in total).
2. Are there strategic groups evident among the firms in the iron ore case? Discuss each groups' characteristics and member firms. (Approximately 400 words in total).
3. What dynamic capabilities are evident in the iron ore firms discussed in the case? (Approximately 400 words in total).
4. According to the text, core rigidities are capabilities that become frozen, inhibiting necessary change. Based on the evidence in the case, does Rio Tinto have any major core rigidities? (Approximately 400 words in total).
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Five Force Analysis of Iron Ore Industry
According to a research conducted by Lucintel, a global consulting the iron ore industry is predicted to reach US $379 growing at a CAGR of 9.9% by 2018 (Lucintel, 2013). After analyzing global market trends, it was found that though the market seems to be declining in the period of 2012-14, it is expected to catch up due to recovering demand for iron ore in the emerging economies. The fives forces in the iron ore industry are as follows:
Strategic Group Analysis
While conducting the strategic group analysis, there were three strategic groups found, when the parameters analyzed were as mentioned below:
The dynamic capabilities (Feiler & Teece, 2014), exhibited by the iron ore industry are as mentioned below: