A Firm That Is Engaged in Environmental Scanning Is Monitoring

question 33

Multiple Choice

A firm that is engaged in environmental scanning is monitoring developments outside of the firm's control in order to detect and respond to

• A)the strengths of the firm.
• B)environmental issues associated with the firm's operations.
• C)market opportunities associated with environmental concerns.
• D)the weaknesses of the firm.
• E)threats and opportunities.

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Definitions:

Maintain Current Operations

The ongoing efforts to keep a business's regular activities running smoothly and efficiently.

Multidomestic Strategy

A strategy used by companies that involves customizing products and marketing strategies to specific national conditions to gain local market share.

Market Diversity

The variety and heterogeneity of products, services, consumers, and entities within a market, enhancing competition and innovation.

Polycentric View

Refers to a perspective in international business where a company adapts its strategies and operations to the local conditions of the countries it operates in, often giving significant autonomy to each local branch.