MANA 4322: Exam 1 CH 1-6
Environmental Scanning - Answer involves surveillance of a firm's external environment
Environmental Monitoring - Answer tracks evolution of environmental trends
Competitive Intelligence - Answer -Helps firms define & understand their industry
-Identifies rivals' strengths & weaknesses
-Helps firms avoid surprises
-Beware of the potential for unethical behavior while gathering intelligence
Environmental Forecasting - Answer Predicts change
Scenario Analysis - Answer involves detailed assessments of the ways trends may affect an
issue & development of alternative futures based on these assessments
SWOT - Answer Strength Weaknesses Opportunities Treats
General Environment - Answer composed of factors that are both hard to predict and
difficult to control
Demographics - Answer easily understandable & quantifiable:
Sociocultural - Answer forces influence the values, beliefs, and lifestyles of a society
Technological Segment - Answer developments lead to new products & services; can create
new industries & alter existing ones
Competitive Environment - Answer consists of factors in the task or industry environment
that are particularly relevant to a firm's strategy
Threat of new Entrants - Answer possibility that the profits of established firms in the
industry may be eroded by new competitors.
Rivalry Tactics - Answer include price competition, advertising battles, new product
introductions, increased customer service or warranties
Environmental Scanning - Answer involves surveillance of a firm's external environment
Environmental Monitoring - Answer tracks evolution of environmental trends
Competitive Intelligence - Answer -Helps firms define & understand their industry
-Identifies rivals' strengths & weaknesses
-Helps firms avoid surprises
-Beware of the potential for unethical behavior while gathering intelligence
Environmental Forecasting - Answer Predicts change
Scenario Analysis - Answer involves detailed assessments of the ways trends may affect an
issue & development of alternative futures based on these assessments
SWOT - Answer Strength Weaknesses Opportunities Treats
General Environment - Answer composed of factors that are both hard to predict and
difficult to control
Demographics - Answer easily understandable & quantifiable:
Sociocultural - Answer forces influence the values, beliefs, and lifestyles of a society
Technological Segment - Answer developments lead to new products & services; can create
new industries & alter existing ones
Competitive Environment - Answer consists of factors in the task or industry environment
that are particularly relevant to a firm's strategy
Threat of new Entrants - Answer possibility that the profits of established firms in the
industry may be eroded by new competitors.
Rivalry Tactics - Answer include price competition, advertising battles, new product
introductions, increased customer service or warranties
