Briefly Differentiate Between the External and Internal Environments That Companies

question 80

Essay

Briefly differentiate between the external and internal environments that companies face and explain why these environments are important.​

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Definitions:

Reasonable

Based on good sense and sound judgment; fair and sensible.

Skimming

A high pricing strategy, generally used for new products or services that face very little or even no competition.

No Competition

A market condition or business scenario where a company faces little to no competition in its industry or for its products.

McClelland's Three Needs Theory

A motivational theory that suggests individuals are driven by three primary needs: the need for achievement, the need for affiliation, and the need for power.