BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Informal economy
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Global segment
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Sustainable physical environment segment
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Technological segment
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Detailed explanation-1: -Adaptability means the ability to be flexible and adjust to changing factors, conditions or environments.
Detailed explanation-2: -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-3: -A PEST analysis (or STEP analysis) invites you to list all the relevant external forces using four headings: Political, Economic, Sociological and Technological. These are useful headings; it doesn’t matter that some items might be both political and economic (eg taxation and exchange rates).
Detailed explanation-4: -The term economic environment refers to all the external economic factors that influence buying habits of consumers and businesses and therefore affect the performance of a company.