 Show Name: Class: Date: Chapter 02: The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis True / False 1. The external environment facing business stays relatively constant over time. a. True b. False ANSWER: False 2. Demographic, economic, political/legal, sociocultural, technological, global, and sustainable physical are the seven elements comprising the general environment. a. True b. False ANSWER: True 3. Firms can directly control the elements of the seven segments of the general environment. a. True b. False ANSWER: False 4. The bankruptcy filings by major corporations during the Great Recession illustrate that firms cannot directly control the general environment's segments. a. True b. False ANSWER: True 5. The industry environment directly influences a firm and its competitive actions and responses. a. True b. False ANSWER: True 6. Competitor analysis is focused on the factors and conditions influencing an industry's profitability potential. a. True b. False ANSWER: False 7. When firms analyze the external environment, they typically have complete and unambiguous data. a. True b. False ANSWER: False 8. Opportunities allow a company to exploit conditions in the environment while threats can lead to damage to a company’s integrity. a. True b. False ANSWER: True Copyright Cengage Learning. Powered by Cognero.Page 1 What is global segment in external environment?The global segment includes relevant new global markets, existing ones that are changing, important international political events, and critical cultural & institutional characteristics of global markets.
When firms analyze the external environment they typically have complete and unambiguous data group of answer choices?When firms analyze the external environment, they typically have complete and unambiguous data. Monitoring involves the development of a forecast of what might happen at a future point in time. Scanning involves detecting meaning through early signals of environmental trends.
What are the seven segments of the external environment?In this vein, the general environment classified into differed seven segments i.e: demographic, economic, political/legal, sociocultural, technological, global and physical.
What is industry external environment?The external environment includes the areas of General, Industry and Competitor environment. The general environment is the broader society dimensions that influence an industry and the firms within it. It is grouped into seven dimensions or 'environmental segments' which cannot be controlled or manipulated.
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The global segment of the external environment provides many opportunities for large corporations
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