List the Five Dimensions of the External Environment of Business

question 227

Essay

List the five dimensions of the external environment of business organizations.

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Definitions:

Schema

A cognitive framework or concept that helps organize and interpret information in the mind, based on experience and prior knowledge.

Golden Triangle

A term for various globally recognized tripartite areas known for specific characteristics, such as being a hotspot for drug trafficking in Southeast Asia or a touristic route in India.

Sweet Spot

refers to an optimum point or combination of factors that produce the best results or effects.

Attention Zone

A state or period where an individual's focus is concentrated on specific stimuli, leading to better reception and processing of information.