Week 2 Quiz

Topics: Collective bargaining, Trade union, Natural environment Pages: 2 (442 words) Published: March 23, 2014
A firm’s external environment is divided into various subcategories that include Remote industry operating This is considered a collection of firms that offer similar products or services that customers perceive to be substitutable for one another..Industry Because the quantity, quality, price, and accessibility of financial, human, and material resources are rarely ideal, assessment of suppliers and creditors is critical to an accurate evaluation of which of the firm’s external environments? Operating environment Which of these is a determinant of entry, according to Porter Economies of scale Economies of scale in an industry refers to Savings that companies within the industry achieve due to increased volume A firm’s access to needed personnel is affected primarily by four factors that include  the firm's reputation as an employer local employment rates the ready availability of people with the needed skills and the relationship with the labor unions This factor considers or provides creative adaptations that can suggest possibilities for new products or for improvements in existing products or in manufacturing and marketing techniques. Technological factor This information is used to explain or predict some aspect of customer behavior with regard to a product or service. Information such as usage rate, benefits sought, and brand loyalty can provide significant aid in the design of more accurate and profitable strategies. Buyer behavior The environment that is typically subject to much influence by the firm is Operating This environment in the strategic planning process comprises factors in the competitive situation that affect a firm’s success in acquiring needed resources or in profitably marketing its goods and services. Operating Environment This term refers to the relationships among human beings and other living things and the air, soil, and water that supports them.  Ecology When managers consider the general availability of credit, the level of...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • MAT 540 Week 2 Quiz Essay
  • Week 2 Quiz Research Paper
  • Week 2 Quiz Essay
  • ECO 203 Week 2 Quiz Essay
  • Week 2 Quiz 2 Essay
  • Essay on Quiz Week 2 2
  • Week 2 Quiz Essay
  • Week 6 Quiz 2 Essay

Become a StudyMode Member

Sign Up - It's Free