Why is it important for a firm to study and understand the external environment? Given the importance of understanding the external environment, why do some firms fail to do so
How do the five forces of competition in an industry affect its profit potential? Explain.
What is the importance of collecting and interpreting data and information about competitors? What practices should a firm use to gather competitor intelligence and why?
Think of each segment in a firm’s general environment. What is an ethical issue associated with each segment? Are firms across the globe doing enough to deal with the issue?
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