Scenario B

question 2

Multiple Choice

Scenario B. You and a fellow investor are investigating the possibility of starting a new casino in Black Hawk, Colorado, a small town in the Rocky Mountains. It has been your lifelong dream. You have won the lottery and are trying to decide if this is what you want to do with your prize money. You decide to do an analysis of the competitive environment. After your analysis, you discover several important issues. First, it will cost most of your lottery winnings to finance a casino in Black Hawk! Second, it will be difficult to attract new customers because they have so many choices available to them in Black Hawk and the surrounding small towns. Finally, the competition in the casino industry is considered "fierce" by industry analysts and this is frightening to someone who has never even worked in the casino industry.
-The information that you have collected in your competitive analysis can be referred to as

• A)forecasting.
• B)competitive intelligence.
• C)environmental scanning.
• D)benchmarking.
• E)scenario development.

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Definitions:

Personal Needs

The essentials required by an individual to maintain their physical and emotional wellbeing.

Polypharmacy

A situation in which elderly people are prescribed several medications. The various side effects and interactions of those medications can result in symptoms typical of major neurocognitive disorder.

Prescription Drugs

Medications legally prescribed by a doctor to treat a variety of health conditions, requiring a healthcare provider's authorization to purchase.

Elderly People

Individuals of an advanced age, often defined contextually but generally pertaining to those who have reached retirement age or older.