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BPL 5100 Study Questions Solved 100% Correct| Verified Answers
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BPL 5100 Study Questions Solved 100% Correct| Verified Answers
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BPL 5100 Study Questions Solved 100% Correct|Verified Answers
Environmental Scanning - ✔✔Surveillance of a firm's external environment to predict
environmental changes and detect changes already under way.
Environmental Monitoring - ✔✔A firm's analysis of the external environment that tracks the
evolution of environmental trends, sequences of events, or streams of activities.
Competitive Intelligence - ✔✔A firm's activities of collecting and interpreting data on
competitors, defining and understanding the industry, and identifying competitors' strengths
and weaknesses
Environmental Forecasting - ✔✔The development of plausible projections about the
direction, scope, speed, and intensity of environmental change.
Scenario Analysis - ✔✔An in-depth approach to environmental forecasting that involves
experts' detailed assessments of societal trends, economics, politics, technology, or other
dimensions of the external environment.
SWOT analysis - ✔✔A framework for analyzing a company's internal and external
environments and that stands for strengths, weaknesses, op
General Environment - ✔✔Factors external to an industry, and usually beyond a firm's
control, that affect a firm's strategy
Demographic Segment of the general environment - ✔✔Genetic and observable
characteristics of a population, including the levels and growth of age, density, sex, race,
ethnicity, education, geographic region, and income.
, Sociocultural segment of the general environment - ✔✔The values, beliefs, and lifestyles of a
society.
Political/legal segment of the general environment - ✔✔How society creates and exercises
power, including rules, laws, and taxation policies.
Technological segment of the general environment - ✔✔Innovation and state of knowledge
in industrial arts, engineering, applied sciences, and pure science; and their interaction with
society.
Economic segment of the general environment - ✔✔Characteristics of the economy,
including national income and monetary conditions.
Global segment of the general environment - ✔✔Influences from foreign countries, including
foreign market opportunities, foreign-based competition, and expanded capital markets
Digital Economy - ✔✔The term Digital Economy refers to economic transactions and
business operations that are based on digital computing technologies
Data analytics - ✔✔The process of examining large data sets to uncover hidden patterns,
market trends, and customer preferences.
Industry - ✔✔A group of firms that produce similar goods or services.
Competitive environment - ✔✔Factors that pertain to an industry and affect a firm's
strategies.
Porter's five forces model of industry competition - ✔✔1. The threat of new entrants.
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