This report will be an exploration of the Icarus paradox.Our identify company – EricssonLength : 4000 wordsIdentify a company that has been successful and then declineddue to the Icarus paradox.Analyse what went wrong using the strategy tools we have discussed,then propose a new strategy.Your report should cover:What is happening in the world (PESTEL) – identifyMacroeconomic issues in the environment and explain how theyare relevant to the formulation of strategy for this companyWhat is happening in the industry (5 forces, life cycle) – identifyissues in the industry and explain how they are relevant to theformulation of strategy for this companyWhat is happening in the company (SWOT, life cycle) – identifyissues relevant to the formulation of strategy for this company.Discuss the SWOT and try to connect a strength with anopportunity.Discuss the issues identified above, what is important, show whatcaused the decline and identify the opportunities.Recommend a new strategy and explain why this strategy shouldbe adopted.