02 BUS 444 Chap 2

Of40 question which of the following is a danger of

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Unformatted text preview: nds, economics, politics, technology, or other dimensions of the external environment 11 of 40 QUESTION Which of the following is a danger of forecasting? A. Managers assume that the world is not open to precise predictions. B. Managers may view uncertainty as black and white and ignore grey areas. C. Managers assume that the world is uncertain. D. Managers view the world as completely unpredictable. 12 of 40 SWOT Analysis Firm’s strategy must: • Build on its strengths • Remedy the weaknesses or work around them • Take advantage of the opportunities presented by the environment • Protect the firm from threats 13 of 40 SWOT Analysis Strengths and weaknesses • Internal conditions of the firm Opportunities and threats environmental conditions • external to the firm 14 of 40 The General Environment Factors external to an industry, usually beyond a firm’s control • Demographic • Technological • Sociocultural • Economic • Legal/Political • Global 15 of 40 Demographic Segment • Aging population • Rising or declining affluence • Changes in ethnic composition • Geographic distribution of population • Greater disparities in income levels 16 of 40 Sociocultural Segment • More women in the workforce • Dual-income families • Increase in temporary workers • Greater concern for healthy diets and physical fitness • Greater interest in the environment • Postponement of having children 17 of 40 Political/Legal Segment • Americans with Disa...
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