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Strategic Issues Facing the Service Industry
In today's challenging business environment, professional service industry is facing various kinds of strategic obstacles related to inappropriate leveraging and miss-assumptions about style of work. Additionally, inability of more senior staff to appropriately delegate is another major strategic issue with the professional service industry in the global world (Smyth, 2011). At the same time, industry is also facing the problems of wrong staffing focus, immaterial incentives or exasperating support strategies. This sector is also facing the obstacles that are related to core management principles. Along with this, industry is also facing the strategic issues in the area of merger, acquisition and strategic alliances. Insufficient institutional support, export competitiveness, lack of knowledge & skills in export marketing are the others issues that are facing the professional service industry (Horn, 2010).
Porter Five Forces of Professional Service Industry The analysis of industry can be done through porter five force models to analyze competitive position. In this industry, i
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