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Global Competition Intensifies the Need for Effective MIS and Business

question 61

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Global competition intensifies the need for effective MIS and business intelligence that are accessible throughout the company.How can IT provide valuable tools in in fulfilling this need as well as conducting global marketing research?


Definitions:

Environmental Scanning

The process of systematically collecting, analyzing, and interpreting data about trends, events, and conditions in the environment that might affect an organization's future.

Consumer Ethnocentrism

The belief held by some consumers that purchasing foreign-made products is wrong or harmful to the local economy.

Major External Factors

Key influences originating outside of an organization that can significantly impact its performance and strategy, such as economic, social, technological, and political conditions.

Direct Competition

Two or more businesses offering products or services that directly compete against each other.

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