Ch2 Notes - Chapter 2: External Analysis 6. Define: o...

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Chapter 2: External Analysis 6. Define: o External Analysis - external forces (something that the company is not doing) that shape competition in the industry in which a company is based to determine what opporlunities/threats impact perform ance. L. Basic need a company is addressing b. What customers being served . Opportunities - arise when a company can take advantage of conditions in its environment to formulate and implement strategies that enable it to become more profitable. Forces that a company can take advantage to improve performance. o Threats - arise when conditions in the external environment endanger the integrity and profitability of the company's business. Conditions that endanger the integrity/profitability of a company's business. o Industry - a group of companies offering product or services that are close substitutes for each other or satisfy customer needs. (FTC) 7. What are the 4 main types of external analysis models? a.
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Ch2 Notes - Chapter 2: External Analysis 6. Define: o...

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