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Environmental Analysis and Strategic Management: Understanding External and Operating Factors

This paper explores the importance of environmental analysis in strategic management, considering both external and operating factors affecting businesses.

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    Environmental Analysis and Strategic Management: Understanding External and Operating Factors 1. A firm’s external environment is divided into various subcategories that include • A. remote, social, and operations • B. industry, technology, and internal • C. political, social, and industry • D. remote, industry, and operating 2. When managers consider the general availability of credit, the level of disposable income, and the propensity of people to spend, they are considering what factors? • A. Social factors • B. Business factors • C. Political factors • D. Economic factors 3. This factor considers or provides creative adaptations that can suggest possibilities for new products or for improvements in existing products or in manufacturing and marketing techniques. • A. Industry factor • B. Operations factor • C. Sales factor • D. Technological factor 4. The quasi - science of anticipating environmental and competitive changes and estimating their importance to an organizations operation refers to • A. environmental scanning • B. SWOT analysis • C. business analysis • D. technological forecasting 5. This term refers to the relationships among human beings and other living things and the air, soil, and water that supports them. • A. Society

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