BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
General environment
|
|
|
Industry environment
|
|
|
Economic environment
|
|
|
Sociocultural environment
|
Detailed explanation-1: -The general environment is composed of dimensions in the broader society that influence an industry and the firms within it. Firms cannot directly control the general environment’s segments and elements.
Detailed explanation-2: -General Environment: Composed of dimensions in the broader society that influence an industry and the firms within it-We group these dimensions into seven environmental segments: demographic, economic, political/legal, sociocultural, technological, global, and sustainable physical-Examples in Table 2.
Detailed explanation-3: -The general environment is composed of the nonspecific elements of the organization’s surroundings that might affect its activities. It consists of five dimensions: economic, technological, sociocultural, political-legal, and international.
Detailed explanation-4: -The five key dimensions of the broader business environment include economic, competitive, technological, social, and global factors.
Detailed explanation-5: -The general environment, or macro-environment, is the variety of factors beyond an organization’s control that affect their operation and performance. These external influencers can determine whether a business experiences opportunities or setbacks in the marketplace.