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These include customers,competitors, suppliers, government, and the social, political, legal and technological factors etc.
What else can I help you with?
What provides the connections between the firm and its environment?
The firm's network of relationships, such as suppliers, customers, competitors, and regulatory agencies, provides the connections between the firm and its environment. These connections help the firm to gather information, resources, and support, and also influence the firm's strategic decisions and performance.
What are the 8 environmental elements of a firm?
The 8 environmental elements of a firm are: competitive environment, economic environment, social environment, political environment, regulatory environment, technological environment, legal environment, and global environment. These elements impact a firm's operations, strategies, and overall business performance. Understanding these factors is crucial for a firm to effectively navigate its external environment.
What is meant by term marketing environment?
Marketing Environment is the sum total of all the forces that affects the firm's or a business organisation's decisions. Because, the firm's internal environment is controllable to a certain extent, so marketing environment basically includes the firm's external uncontrollable environment.
What is firm's environment?
a firm environment is a disciplined and a struggled environment where every person has got its own responsibility to do the work efficiently and make the environment attractive,so that other faculty can be encourage.
Why is it important to monitor the macro-environment of a firm?
It is very important to monitor the macro-environment of a firm as they will directly affect the organization. These are external factors that a firm will not have control over and will affect the performance of the business.
What is optimum firm?
An optimum firm s one that has favorable working conditions. This is a firm that has created a conducive work environment.
What are the constraints of a firm?
This is determined by the firm´s environment, funds, business acumen, labor rights and ethics and market opportunities.
Specific government organizations in a firm's immediate task environment are called?
substitutes
Explain how the general environment and the industry environment are highly related how can such relationship affect the profitability of a firm or industry?
The general environment includes factors like economic conditions, socio-cultural trends, and technological advancements that can impact the industry environment, which consists of competitors, suppliers, and buyers. Changes in the general environment can create opportunities or threats in the industry environment, influencing the profitability of a firm or industry. For example, a recession in the general environment may lead to reduced consumer spending in the industry environment, affecting sales and profitability.
What was meant by the term scalaway in the south?
Marketing Environment is the sum total of all the forces that affects the firm's or a business organisation's decisions.
What is the meaning of changing environment?
changing environment basically means a 'dynamic environment' and it differs from one field to another, for eg: for an bank,the changing environment in mancro level can be RBI policies, Inflation, Interest rates etc.. For a firm depending on technology, the competition is changing environment due to obsolescence of technology, entry of new competitors etc
Discuss some forces that influence the formality of strategic management?
The marketing environment, The size of the firm Its financial resourses, capabilities, objectibve,HR
