Given the Range of External Influences That Impact a Firm,understanding

question 9

Multiple Choice

Given the range of external influences that impact a firm,understanding the external environment requires managers to:

• A)Use a framework or a system that allows them to organize relevant information and rank the importance of different factors
• B)Monitor competitors closely
• C)Use all existing sources and techniques to gather and analyze information
• D)Devote a large proportion of their time to this task

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Definitions:

Enslaved People

Individuals who are forcibly held in servitude and owned by others, often with their legal rights entirely stripped away, indicating a focus on the human aspect and experiences of those subjected to slavery.

Freed Slaves

Individuals who were once enslaved but gained freedom, either through legal means such as emancipation or by escaping from their enslavers.

Southern Economy

Refers to the economic structure and characteristics dominant in the Southern United States, historically characterized by agriculture and plantation systems.

Plantations

Large agricultural estates typically found in tropical or subtropical regions that specialize in the mass production of a single cash crop, such as sugar, cotton, or tobacco.