The Legal Component of the General Environment Is Related to Government

question 66

True/False

The legal component of the general environment is related to government affairs.

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Definitions:

Prospector Strategy

A business strategy that focuses on innovation, exploring new markets, and seeking out new opportunities, often characterized by a willingness to take risks.

Innovation

The process of creating new ideas, products, or methods, which bring about significant positive change or improvement.

Retrenchment

The process of reducing staff or costs within an organization as a strategy to improve its financial position.

Divestiture

Divestiture sells off parts of the organisation to focus attention and resources on core business areas.