External Environmental Scanning

Please make sure all questions are answered at a minimum of 150 words.

1.Why is it important for a firm to study and understand the external environment?

2.What are the differences between the general environment and the industry environment? Why are these differences important?

3.What is the external environmental analysis process (four parts)? What does the firm want to learn when using this process?

4.Can our discussions with our clients be the type that help us retain our customers? If so, are the consultants right in their approach?

5.What are high exit barriers?

6.What is Environmental Analysis

7.Define strategic groups and describe their influence on firms.

8.Describe what firms need to know about their competitors and different methods (including ethical standards) used to collect intelligence about them.

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