Explain the meaning of environmental scanning. Which constituents of the environment, from the viewpoint of a corporation, require scanning?
What will be an ideal response?
Environmental scanning is the systematic monitoring of relevant changes in the environment surrounding the organization. The major elements of the environment requiring attention from the corporation’s viewpoint are the economic, social, political, regulatory, and technological environments.
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Full-service retailers generally have the lowest costs of all retail types
Indicate whether the statement is true or false
Which of the following is a geographical pricing strategy?
A) basing-point pricing B) segmented pricing C) dynamic pricing D) Internet pricing E) location-based pricing
Which of the following best exemplifies a costly mistake that can be attributed to passive listening?
A) forgetting to reorder supplies and having work come to a standstill while you send an employee out to restock B) taking an order so large that your factory has to run costly overtime shifts to meet the production deadline C) failing to proof your report before making copies of it, and having to reprint them all after you realize this and correct the typos D) scheduling two appointments for the same time and having to cancel on one of your clients at the last minute E) mailing out a coupon giving customers 50% off on their orders because you misheard when your boss asked you to create a coupon for 15% off
Which of the following is likely to be a core competency for a company?
a. availability of commodities b. ability to set up an R&D unit c. ability to innovate d. ability to outsource