Identify a True Statement About the Role of External Analysis

question 32

Multiple Choice

Identify a true statement about the role of external analysis in creating a business strategy.

• A)It involves standardized surveys to gauge employee satisfaction.
• B)It involves an examination of the competition and the forces that shape industry competition and profitability.
• C)It involves the examination of a company's set of resources and capabilities that can be deployed to deliver unique value to customers.
• D)It involves the study of a firm's operational practices to improve efficiency.

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Definitions:

Heredity and Environment

The dual factors that influence an individual's development and characteristics; heredity refers to genetic inheritance, while the environment encompasses all external factors.

Cultural Practices

These are the patterns of behavior accepted by a society that reflect the beliefs, customs, and traditions of its people.

Behavioral Similarity

The degree to which individuals in a group exhibit the same behaviors or patterns of action.

Culture

The shared values, beliefs, behaviors, and norms of a group of people or society.