GK
BUSINESS MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
a favorable, external factor companies cannot control
|
|
|
items (materials) used in the production of a good
|
|
|
negative, internal factors that a company can control
|
|
|
distinguishes the organization’s product or service from competitors because of certain unique characteristics
|
|
|
making links and establishing a mutually beneficial relationship with other business people
|
Detailed explanation-1: -External factors include opportunities and threats that are outside of the organization. These are factors that the company may be able influence-or at least anticipate-but not fully control. Examples of external factors include the following: Technology innovations and changes.
Detailed explanation-2: -Opportunities refer to favorable external factors that could generate a competitive advantage for the organization. For example, if a country reduces tariffs, a car manufacturer can export its cars to a new market, increasing sales and market share.
Detailed explanation-3: -By definition, Strengths (S) and Weaknesses (W) are considered to be internal factors over which you have some measure of control. Also, by definition, Opportunities (O) and Threats (T) are considered to be external factors over which you have essentially no control.
Detailed explanation-4: -Market trends (new products, technology advancements and shifts in audience needs) Economic trends (local, national and international financial trends) Funding (donations, legislature and other sources) Demographics. Relationships with suppliers and partners. More items