The Three Parts of the External Environment Which Affect a Firm's

question 25

Multiple Choice

The three parts of the external environment which affect a firm's strategic actions are

• A)economic, political, and legal.
• B)general, industry, and competitor.
• C)industry, business, and product.
• D)local, national, and global.

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Definitions:

Sales Forecast

An estimation of the future sales performance of a company or product within a particular timeframe, based on past sales data, market analysis, and economic trends.

Finished Goods Inventory

This refers to the items in a manufacturer's inventory that are completed and ready for sale.

Production Units

Refers to the quantifiable outputs or goods produced by a manufacturing process or facility.

Master Budget

The master budget is a comprehensive financial planning document that consolidates all of a company's individual budgets, outlining its financial goals and plans.