BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Demographic Factors
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Socio-cultural Factors
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Technological Factors
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Substitute Product or Services.
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Detailed explanation-1: -The environmental segments that comprise the general environment typically will not include: demographics.
Detailed explanation-2: -The environmental segments that make up the general environment typically will NOT include: substitute products or services.
Detailed explanation-3: -In this vein, the general environment classified into differed seven segments i.e: demographic, economic, political/legal, sociocultural, technological, global and physical. For each segment, the firm has to determine the strategic relevance of environmental changes and trends.
Detailed explanation-4: -The correct answer is D) competitors.
Detailed explanation-5: -The general environment is composed of dimensions in the broader society that influence an industry and the firms within it. We group these dimensions into six segments: political, economic, social, technical or technological, environmental, and legal.