Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Critical Thinking Current Event - General Environment; Industry Environment What is going on in the world? Find a current event (within last six months) that

Critical Thinking Current Event - General Environment; Industry Environment

What is going on in the world? Find a current event (within last six months) that is relevant to one of the concepts covered in lecture. Please include a link to the article and thorough explanation of why it is relevant, what business concepts it is demonstrates, and the significance of the news. This is NOT a summary of the news; this is where you practice and demonstrate critical thinking (a key learning objective of the class). The topics covered this week were:

The General Environment

  • Trends in the general environment
    1. Political
    2. Economic
    3. Socio-cultural
    4. Technological
    5. Legal
    6. Environmental

The Industry Environment

  • Five forces of an industry analysis.
    1. Threat of new entrants
    2. Threat of substitutes
    3. Power of suppliers
    4. Power of buyers
    5. Intensity of Rivalry
  • Understand strategic groups

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Restaurant From Concept To Operation

Authors: John R Walker

7th Edition

1118629620, 9781118629628

More Books

Students also viewed these General Management questions

Question

Tell me what you know about our organization and the position.

Answered: 1 week ago

Question

2. In what way can we say that method affects the result we get?

Answered: 1 week ago