Why it is important for any organization to study its external environment. Introduction: Strategic management refers to formulating and implementing the way to achieve the goals by considering available resource and the internal and external environment. It will be framed by the top management on behalf of an organization.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 3, Problem 1DQ

Summary Introduction

To determine: Why it is important for any organization to study its external environment.

Introduction:

Strategic management refers to formulating and implementing the way to achieve the goals by considering available resource and the internal and external environment. It will be framed by the top management on behalf of an organization.

Expert Solution & Answer

Explanation of Solution

Determine why it is important for any organization to study its external environment:

As the external environment affects the performance of the firm and the industry, understanding the external environment is important for any organization. It helps the company to mitigate the threats and control the opportunities accordingly. Five forces model helps to determine the reason for the profitability of the industry and it helps to create and implement the strategies to improve the profits of the firm.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

How can a company measure the effectiveness and efficiency of its business processes?

What is the purpose or rationale for an organization’s existence?

What is the contribution made by business organizations to meet the needs of people or a society?

Answer 2

Question

Chapter 3, Problem 1DQ

Summary Introduction

To determine: Why it is important for any organization to study its external environment.

Introduction:

Strategic management refers to formulating and implementing the way to achieve the goals by considering available resource and the internal and external environment. It will be framed by the top management on behalf of an organization.

Expert Solution & Answer

Explanation of Solution

Determine why it is important for any organization to study its external environment:

As the external environment affects the performance of the firm and the industry, understanding the external environment is important for any organization. It helps the company to mitigate the threats and control the opportunities accordingly. Five forces model helps to determine the reason for the profitability of the industry and it helps to create and implement the strategies to improve the profits of the firm.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 3, Problem 1DQ

Summary Introduction

To determine: Why it is important for any organization to study its external environment.

Introduction:

Strategic management refers to formulating and implementing the way to achieve the goals by considering available resource and the internal and external environment. It will be framed by the top management on behalf of an organization.

Expert Solution & Answer

Explanation of Solution

Determine why it is important for any organization to study its external environment:

As the external environment affects the performance of the firm and the industry, understanding the external environment is important for any organization. It helps the company to mitigate the threats and control the opportunities accordingly. Five forces model helps to determine the reason for the profitability of the industry and it helps to create and implement the strategies to improve the profits of the firm.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 3, Problem 1DQ

Summary Introduction

To determine: Why it is important for any organization to study its external environment.

Introduction:

Strategic management refers to formulating and implementing the way to achieve the goals by considering available resource and the internal and external environment. It will be framed by the top management on behalf of an organization.

Expert Solution & Answer

Explanation of Solution

Determine why it is important for any organization to study its external environment:

As the external environment affects the performance of the firm and the industry, understanding the external environment is important for any organization. It helps the company to mitigate the threats and control the opportunities accordingly. Five forces model helps to determine the reason for the profitability of the industry and it helps to create and implement the strategies to improve the profits of the firm.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 3, Problem 1DQ

Summary Introduction

To determine: Why it is important for any organization to study its external environment.

Introduction:

Strategic management refers to formulating and implementing the way to achieve the goals by considering available resource and the internal and external environment. It will be framed by the top management on behalf of an organization.

Expert Solution & Answer

Explanation of Solution

Determine why it is important for any organization to study its external environment:

As the external environment affects the performance of the firm and the industry, understanding the external environment is important for any organization. It helps the company to mitigate the threats and control the opportunities accordingly. Five forces model helps to determine the reason for the profitability of the industry and it helps to create and implement the strategies to improve the profits of the firm.

Answer 6

Chapter 3, Problem 1DQ

Summary Introduction

To determine: Why it is important for any organization to study its external environment.

Introduction:

Strategic management refers to formulating and implementing the way to achieve the goals by considering available resource and the internal and external environment. It will be framed by the top management on behalf of an organization.

Expert Solution & Answer

Explanation of Solution

Determine why it is important for any organization to study its external environment:

As the external environment affects the performance of the firm and the industry, understanding the external environment is important for any organization. It helps the company to mitigate the threats and control the opportunities accordingly. Five forces model helps to determine the reason for the profitability of the industry and it helps to create and implement the strategies to improve the profits of the firm.

Answer 7

Chapter 3, Problem 1DQ

Summary Introduction

To determine: Why it is important for any organization to study its external environment.

Introduction:

Strategic management refers to formulating and implementing the way to achieve the goals by considering available resource and the internal and external environment. It will be framed by the top management on behalf of an organization.

Answer 8

Expert Solution & Answer

Explanation of Solution

Determine why it is important for any organization to study its external environment:

As the external environment affects the performance of the firm and the industry, understanding the external environment is important for any organization. It helps the company to mitigate the threats and control the opportunities accordingly. Five forces model helps to determine the reason for the profitability of the industry and it helps to create and implement the strategies to improve the profits of the firm.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Ch. 3.5 - Prob. 1CC Ch. 3.5 - Prob. 2CC Ch. 3.5 - Prob. 3CC Ch. 3.5 - Prob. 4CC Ch. 3.5 - Prob. 5CC Ch. 3 - Prob. 1DQ Ch. 3 - Prob. 2DQ Ch. 3 - Prob. 3DQ Ch. 3 - Prob. 4DQ Ch. 3 - Prob. 1ESI

Explanation of Solution

Want to see more full solutions like this?

Chapter 3 Solutions