Question

The global recession forced thousands of firms into bankruptcy. Does this fact alone confirm that “external factors are more important than internal factors” in strategic planning?

Expert Solution

Want to see the full answer?

Check out a sample Q&A here
Blurred answer
Students who’ve seen this question also like:
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN: 9781337106665
Author: Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher: Cengage Learning
Not helpful? See similar books
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Managing Vertical Relationships. 5MC
marketing sidebar icon
Want to see this answer and more?
Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*
*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.

Related Economics Q&A

Find answers to questions asked by students like you.

Q: Market structure

A: In economics, market structure refers to how different industries are classified and differentiated…

Q: Is communicative action a necessary part of strategic planning? Argue in a four-point.

A: There is no doubt that communicative action is a necessary part of strategic planning. Following are…

Q: Examples of tradeoffs that have both monetary and non monetary cost

A: In simple terms, trade-off is giving up one thing to get the other thing. Due to the scarcity of…

Q: What is cost leadership strategy advances?

A: In a market, there are different strategies used by the firms to gain competitive advantage such as…

Q: List the multiple factors that affect a company's market value?

A: Market esteem/value (otherwise called OMV, or "open market valuation") is the value a resource would…

Q: tion strategies?

A: Communication strategies are strategies being used by learners use in order to overcome the problems…

Q: Post hoc fallacy?

A: The fallacy is described as a situation that occurs when using illogical reasoning, an argument is…

Q: Apply decision making process/model to your decision to attend college

A: The decision making process is a day by day business activity for any individual or company.…

Q: construct an advertising program for an airline using the laddering technique?

A: ANSWER   construct an advertising program for an airline using the laddering technique is

Q: Compare and contrast major styles of leaderahip

A: There are major 4 style of leadership- i) Transactional Leaders Are Directive Style: People who need…

Q: Go to investor.siriusxm.com and check whether Sirius XM’s recent financial reports indicate that its…

A: given data   Go to investor.siriusxm.com and check whether Sirius XM’s recent financial reports…

Q: Groups that actively interact with other groups by are usually the most productive.

A: In a business setting, much of the work is done by groups of people. In line with these lines,…

Q: Economics gives managers a framework for assessing profitability.

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: How can you help make information more pertinent to your audience and increase your chances of…

A: The communications landscape changes rapidly over time, but one criterion for successful…

Q: vertical integration

A: The main factor through which vertical integration may effect price. These factors may decrease or…

Q: sequential game

A: Sequential games are used to analyze the situation in which one firm acts and other firms respond.

Q: bases of competition

A: The general basis of competition - to know about the price of the product, the quantity of the…

Q: profit-maximizing

A: The profit maximizing condition for a monopolist is MR= MC  Profit maximizing output is 20 units

Q: What are trade-offs, and how do operational efficiency goals compete with one another

A: During the production process, there are different options available to the producer. The producer…

Q: Why is it important to review the objectives of a strategic marketing plan before setting a…

A: A marketing strategy is the overall plan of a business for reaching prospective consumers and…

Q: How do the reward system and organization cultureaffect innovation in organizations?

A: Innovative organizations appear to have cultures which are closely related. They promote creative…

Q: Compare and contrast two quantitative

A: 1)The qualitative decision making is based upon analysis of qualitative factors like organisational…

Q: Your firm has a new strategy that will make its established product obsolete.  However, it will take…

A: There are many type of consumers are there in the economy. Some will buy the product at the time of…

Q: consummatin

A: Factory workers tend to use their skills and knowledge in moulding of the inputs into the some other…

Q: Game Theory

A: Equilibrium concepts:- There exist multiple equilibrium concepts in game theory. For single-period…

Q: Why do managers make bad decisions?

A: Managers and leaders are simply human, and people aren't ideal decision-makers, so anticipate a…

Q: Just-in-Time Kanban Systems?

A: Inventory system is a system that is used to manage the available inventory of the business…

Q: Why do we prefer a shorter payback period if other things are equal?

A: Payback period is the time required to cover the cost of the investment or the time required by the…

Q: Using relevant examples explain the three types of strategy

A: 1. Business Strategy: Customer Experience The first of the three strategies is a business strategy…

Q: Which of the following is NOT one of the four steps for making good strategic decisions? A. Assume…

A: A. This is correct option.  Strategy Should be based on your own actions,others action can't be the…

Q: What are nine components in the sales dialogue template that can be used for planning an organized…

A: Sales dialogue is the communication between the buyer and seller regarding the buyer’s needs and…

Q: excludible but non-rival in use.

A: The externality depicts the situation of market failure and inefficiency. The externalities are of…

Q: Lifestyle is a strategy to promote a product to make consumers to believe that the new solution,…

A: Lifestyle is a strategy to promote a product to make consumers to believe that the new…

Q: This pertains to the characteristics of the business or project that could endanger the…

A: SWOT is a form of business analysis technique. It is a four-pronged evaluation of the business in…

Q: Doctrow uses the following terms to describe; Someone who puts capital into production and…

A: Production: It is a cycle of consolidating different material information sources and unimportant…

Q: Perfect competition

A: Meaning of Market: The term market refers to the situation under which the producers or the…

Q: perfect competition

A: There are different forms of market such as Perfect and Imperfect form. These includes different…

Q: perfect competition

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: In what manner all the logistical and cross functional drivers that organizations use for their…

A: SCM entails the flow of information and products between and among supply chain stages to enhance…

Q: You are the BRAND MANAGER of "AFTER EIGHT "

A: GIVEN   Scrutinize the use of social media platforms such as Facebook, Youtube, Twitter, Instagram…

Q: When loyalty programs work, they result in one or more of the four effects of loyalty.  Discuss…

A: Loyalty Programs: These are the techniques to attract customers and boost the sell. Under the…

Knowledge Booster
Economics
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
    • SEE MORE QUESTIONS
    Recommended textbooks for you
  • Managerial Economics: A Problem Solving Approach
    Economics
    ISBN:9781337106665
    Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
    Publisher:Cengage Learning
    Managerial Economics: Applications, Strategies an...
    Economics
    ISBN:9781305506381
    Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
    Publisher:Cengage Learning
  • Managerial Economics: A Problem Solving Approach
    Economics
    ISBN:9781337106665
    Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
    Publisher:Cengage Learning
    Managerial Economics: Applications, Strategies an...
    Economics
    ISBN:9781305506381
    Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
    Publisher:Cengage Learning