Question

The three parts of the external environment that affect a firm's strategic actions are:a. local, national, and global.b. industry, business, and product.c. general, industry, and competitor.d. economic, political, and legal.

Answer 1

Answer:

The correct answer is C. general, industry, and competitor.

Explanation:

The environment of a company is made up of constantly changing factors, both external and internal - that affect the operation of the organization. If a new competitor appears on the market, the business environment is affected. If key customers take their business elsewhere, managers feel the impact. And if technological advances date back to an organization's current methods of doing business, once again, the management environment has to adapt. The external environment of an organization are those factors external to the company that affect the ability of the company to function. Some external elements can be manipulated by the company's marketing, while others require the organization to make adjustments, monitor the core components of your company's external environment, and keep a close watch at all times.