This study will provide a detailed look at Yahoo!, paying special attention to its internal and external environment. The study begins with a brief background on the company, followed by an analysis of the portal industry in terms of its current attractiveness and its future prospects. The shift will then move to Yahoo's performance, and its positioning in the broader market. The study will conclude with thoughts on the company's future prospects. 15 pgs. 15 f/c. 7b.