Chap2 The External Environment 2 Docx Chapter 2 The External 1. explain the importance of analyzing and understanding the firm’s external environment. 2. define and describe the general environment and the industry environment. 3. discuss the four parts of the external environmental analysis process. 4. name and describe the general environment’s seven segments. 5. Chap. 2: external environment: opportunities, threats, industry, competition competitor analysis the external environment (includes industry in which firm competes as well as those against whom it competes) affects competitive actions and responses firms take to outperform competitors and earn returns. o characteristics of external environment differ from historical concerns. o firms.
Module 2 Chapter 2 Chapter 2 The External Environment Oppo External environment analysis. to cope with often ambiguous and incomplete environmental data and to increase understanding of the general environment, firms complete an external environmental analysis. this analysis has 4 parts: scanning, monitoring, forecasting and assessing. • the external environment has three major parts: (1) the general environment (elements in the broader society that affect industries and their firms), (2) the industry environment (factors that influence a firm, its competitive actions and responses, and the industry’s profit potential), and (3) the competitor environment (in which the firm analyzes each major competitor’s future. The set of factors that directly influences a firm and its competitive actions and responses: the threat of new entrants, the power of suppliers, the power of buyers, the threat of product substitutes, and the intensity of rivalry among competing firms. Chapter 2: the external environment. general environment. click the card to flip 👆. the general environment is composed of dimensions in the broader society that influence an industry and the firms within it. click the card to flip 👆. 1 16.
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