"Business Strategies"  a discussion of M.Azim Ulfati

"Determine the factors that should be evaluated when creating competitive strategy of a business. For each factor, indicate its significance."

Competitive advantage comes about from general elements in competitive advantage and from types of innovation in innovation. The strongest forms of competitive advantage come from business model innovation and management innovation. Below I have determined the factors when creating competitive strategy for business.

Important factors that create competitive strategy for a business, they may be internal or external. The following are key external factors:

Economic conditions. They cover the general health and direction of the economy, inflation and deflation, interest rates, tax laws, and tariffs.

Political conditions. They cover favorable or unfavorable attitudes toward business, political stability or instability, and wars.

Legal environment. This includes antitrust laws, government regulations, trade restrictions, minimum wage laws, product liability laws and recent court experience, labor laws, and patents.

Technology. This can include the rate at which product innovations are occurring, current and future process technology (equipment, materials handling), and design technology.

Competition. This includes the number and strength of competitors, the basis of competition (price, quality, special features), and the ease of market entry.

Markets. This includes size, location, brand loyalties, ease of entry, potential for growth, long-term stability, and demographics. 
The organization also must take into account various internal factors that relate to possible

Strengths or weaknesses. Among the key internal factors are the following:

Human resources. These include the skills and abilities of managers and workers; special talents (creativity, designing, problem solving); loyalty to the organization; expertise; dedication; and experience.

Facilities and equipment. Capacities, location, age, and cost to maintain or replace can have a significant impact on operations.

Financial resources. Cash flow, access to additional funding, existing debt burden, and cost of capital are important considerations.

Customers. Loyalty, existing relationships, and understanding of wants and needs are important.

Products and services . These include existing products and services, and the potential for new products and services.

Technology. This includes existing technology, the ability to integrate new technology, and the probable impact of technology on current and future operations.

Suppliers. Supplier relationships, dependability of suppliers, quality, flexibility, and service are typical considerations.

Other. Other factors include patents, labor relations, company or product image, district- channels, relationships with distributors, maintenance of facilities and equipment, access to resources, and access to markets. 
After assessing internal and external factors and an organization’s distinctive competence, a strategy or strategies must be formulated that will give the organization the best chance of success.

 "Evaluate whether or not the business strategy is dictated by the industry or type of business. Provide an example of an industry and your rationale."

I guess there are some limitation in order to approach to development of strategy and the company strategy is not dictated by constraints of the environment but it is influenced and affected through assessment of how the company can better exploit competencies to the opportunities in an external environment. It is important to keep in mind that every company has its own rules, limitations, strategy and policy, and many companies strategy is dictated by company that its competition of business has been offered to consumers.