View the step-by-step solution to:

CHAPTER 2: ASSIGNMENT QUESTIONS - Answer any five(5) of the following seven (7) questions. Why is it important for a firm to study and understand the...

CHAPTER 2: ASSIGNMENT QUESTIONS - Answer any five(5) of the following seven (7) questions.


  1. Why is it important for a firm to study and understand the external environment? 
  2. What are the differences between the general environment and the industry environment? Why are these differences important?  
  3. What is the external environmental analysis process (four parts)? What does the firm want to learn when using this process 
  4. What are the seven segments of the general environment? Explain the differences among them.
  5. How do the five forces of competition in an industry affect its profit potential? Explain.  
  6. What is a strategic group? Of what value is knowledge of the firm's strategic group in formulating that firm's strategy?
  7. What is the importance of collecting and interpreting data and information about competitors? What practices should a firm use to gather competitor intelligence and why?  

Top Answer

Why is it important for a firm to study and understand the external environment It is important for a firm to study and... View the full answer

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask a homework question - tutors are online