ext, use the Group Work Discussion to begin drafting out the following prompts: Perform an external environmental analysis of the: Macro-level environment (PESTEL analysis). Industry environment (e.g., Porter's five forces). Competitive environment. Perform an internal analysis of the firm using the resource-based view: What are the firm's resources, capabilities, and competencies? Does the firm possess valuable, rare, costly to imitate resources, and is it organized to capture value from those resources (VRIO analysis)? What is the firm's value chain