A firm's ________ includes its rivals, suppliers, customers, new entrants, substitutes, and complementary products.
A) environmental scanning
B) competitive intelligence
C) external environment
D) competitive environment
E) organizational climate
D) competitive environment
Explanation: An organization exists in its competitive environment, which is composed of the firm and its rivals, suppliers, customers (buyers), new entrants, and substitute or complementary products.
You might also like to view...
Discuss the major 21st-century trends in multicultural diversity that are important to public relations practitioners
What will be an ideal response?
During which stage of the product life cycle does a company have to promote the differences between its brand and that of the competition, and attempt to portray its competitive advantage?
A. decline B. maturity C. growth D. introduction
If a person signs a written contract and they do not know how to read, the contract could be void due to
A) mistake B) misrepresentation C) duress D) non est factum E) undue influence
Describe a successful entrepreneur’s typical reaction to failures, particularly small ones.
a. They have very few failures because they do everything to avoid them. b. They get out of the business as early as possible in order to cut their losses. c. They see failures as opportunities to build on what they learned or capture new opportunities. d. They try to make failures happen to increase the overall creative tension.