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MIE 480 CHAPTER 2 EXAM QUESTIONS AND ANSWERS GRADED A+ 2026

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MIE 480 CHAPTER 2 EXAM QUESTIONS AND ANSWERS GRADED A+ 2026

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MIE 480
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MIE 480

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MIE 480 CHAPTER 2 EXAM QUESTIONS
AND ANSWERS GRADED A+ 2026




General Environment - ANS Composed of dimensions in the broader society that influence an
industry and the firms within it.



The Industry Environment - ANS The set of factors that directly influences a firm and its
competitive actions and responses: the threat of new entrants, the power of suppliers, the
power of buyers, the threat of product substitutes, and the intensity of rivalry among
competing firms.



Competitor Analysis - ANS Firms gather and interpret information about their competitors



4 Parts of Environmental Analysis - ANS Scanning, monitoring, forecasting, and assessing



Opportunity - ANS A condition in the general environment that, if exploited effectively, helps
a company reach strategic competitiveness



Threat - ANS A condition in the general environment that may hinder a company's efforts to
achieve strategic competitiveness




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