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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.

David Miller
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Environmental Analysis and Strategic Management: Understanding Externaland Operating Factors1.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 operating2.When managers consider the general availability of credit, the level of disposableincome, and the propensity of people to spend, they are considering what factors?•A.Social factors•B.Business factors•C.Political factors•D.Economic factors3.This factor considers or provides creative adaptations that can suggest possibilitiesfor new products orfor improvements in existing products or in manufacturing andmarketing techniques.•A.Industry factor•B.Operations factor•C.Sales factor•D.Technological factor4.The quasi-science of anticipating environmental and competitive changes andestimating their importance to an organizations operation refers to•A.environmental scanning•B.SWOT analysis•C.business analysis•D.technological forecasting5.This term refers to therelationships among human beings and other living things andthe air, soil, and water that supports them.•A.Society

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