Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Through the External Environment Analysis in the strategic management analysis stage, The external environment consists of three main components: environmental scanning (general environment), environmental monitoring,

Through the External Environment Analysis in the strategic management analysis stage, The external environment consists of three main components: environmental scanning (general environment), environmental monitoring, and competitive intelligence (competitive environment). We can obtain data and information for each part, using various tools. Concerning the third section, which deals with the competitive environment, Porter's Five Forces is one of the most utilized tools. One of the primary criticisms of Porter's Five Forces, This means that it provides us with a picture rather than a dynamic source of knowledge. How can we turn this tool into a dynamic process?

Provide any alternative techniques to gather information continuously or dynamically in a competitive environment with effective solution following the external environment in all its three aspects.

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_2

Step: 3

blur-text-image_3

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

Retailing Management

Authors: Levy, Weitz

9th Edition

1259060667, 9781259060663

More Books

Students also viewed these General Management questions

Question

Define Administration and Management

Answered: 1 week ago

Question

Define organisational structure

Answered: 1 week ago

Question

A greater tendency to create winwin situations.

Answered: 1 week ago

Question

Improving creative problem-solving ability.

Answered: 1 week ago