BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Competitors
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GDP per capita
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Sales
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Strengths
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Detailed explanation-1: -Examples of external threats include new and existing regulations, new and existing competitors, new technologies that may make your products or services obsolete, unstable political and legal systems in foreign markets, and economic downturns.
Detailed explanation-2: -Opportunities and threats are external-things that are going on outside your company, in the larger market. You can take advantage of opportunities and protect against threats, but you can’t change them. Examples include competitors, prices of raw materials, and customer shopping trends.
Detailed explanation-3: -Opportunities refer to favorable external factors that could give an organization a competitive advantage. For example, if a country cuts tariffs, a car manufacturer can export its cars into a new market, increasing sales and market share.
Detailed explanation-4: -Competitor threats can be everything from supply chain disruptions (hello, 2020/2021) to new companies being formed. If the competitor you are analyzing provides something similar to your own product or offering, these threats may be similar to your own. In this sense, threats can be both internal and external.