- Why is it important for a firm to study and understand the external environment?
- Which are most important among the economic, technological, social and demographic, political and ecological remote environmental factors impacting your own industry & firm? Make sure to explain your strategic thinking about your firm and be as specific as possible.
- What are the differences between the general environment and the industry environment? Why are these differences important?
- What is the external environmental analysis process (four parts). What does the firm want to learn when using this process?
- Explain the differences among the seven segments of the general environment. Why are these details of interest to organizations?
- How do the five forces of competition in an industry affect its profitability potential?
- Why is it important for a company’s design to include sustainable processes?
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