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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

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