ENTREPRENEURIAL OPPORTUNITIES
IDENTIFYING AND EVALUATING BUSINESS OPPORTUNITIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which is an external threat that a company might identify while conducting a situation analysis?
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Declining unemployment
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Failing interest rates
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Increasing GDP
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Raising inflation rates
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Explanation:
Detailed explanation-1: -A PEST analysis (or STEP analysis) invites you to list all the relevant external forces using four headings: Political, Economic, Sociological and Technological.
Detailed explanation-2: -Example: A gift shop conducts an external analysis of other local shops that sell the same skincare line. They identified the price points used by their competitors and set their own prices just below theirs to encourage profit.
There is 1 question to complete.