Explain the importance of analyzing and understanding the firm's external environment.

Principles of Management
OER 2019th Edition
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax
Chapter8: Strategic Analysis: Understanding A Firm’s Competitive Environment
Section: Chapter Questions
Problem 5CRQ: What is an industry, and how do Porters Five Forces help a manager trying to understand a firms...
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Explain the importance of analyzing
and understanding the firm's external
environment.
Transcribed Image Text:Explain the importance of analyzing and understanding the firm's external environment.
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