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SEVI 3013 Final Exam Uark | Questions with 100% Correct Answers | Verified | Latest Update 2024
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SEVI 3013 Final Exam Uark | Questions with 100% Correct Answers | Verified | Latest Update 2024
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SEVI 3013 Final Exam Uark |Questions with 100% Correct
Answers | Verified | Latest Update
2024
Sustainable physical environment Segment - ✔✔-Energy consumption
-Practices used to develop energy sources
-Renewable energy efforts
-Minimizing a firm's environmental footprint
-Reacting to natural or man-made disasters
External Environmental Analysis - ✔✔To cope with often ambiguous and
incomplete environmental data and to increase understanding of the general
environment
The Four Components of the External Environmental Analysis - ✔✔1. Scanning
2. Monitoring
,3. Forecasting
4. Assessing
Scanning - ✔✔Identifying early signals of envrionmnetal changes and trends
Monitoring - ✔✔Detecting meaning through ongoing observations
of environmental changes and trends
Forecasting - ✔✔Developing projections of anticipated outcomes based
on monitored changes and trends
Assessing - ✔✔Determining the timing and importance of environmental
changes and trends for firms' strategies and their management
The Five Forces of Competition Model - ✔✔1. Threat of New Entrants
,2. Bargaining Power of Suppliers
3. Bargaining Power of Buyers
4. Threat of Substitute Products
5. Rivalry Among Competing Firms
Threat of New Entrants - ✔✔Identifying new entrants is important because
they can threaten the market share of existing competitors
The likelihood that firms will enter an industry is a function of two factors:
barriers to entry and the retaliation expected from current industry participants
Barriers to Entry - ✔✔-Economies of Scale
-Product Differentiation
-Capital Requirements
-Switching Costs
, -Knowledge Requirements
Bargaining Power of Suppliers - ✔✔Suppliers can exert power over
firms competing within an industry by
-Increasing prices
-Reducing the quality of their products
A supplier group is powerful when: - ✔✔-It is dominated by a few large
companies and is more concentrated than the industry to which it sells
-Satisfactory substitute products are not available to industry firms
-Suppliers' goods are critical to buyers' marketplace success
Bargaining Power of Buyers - ✔✔To reduce their costs, buyers bargain for:
-Higher quality
-Greater levels of service
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