Situation Analysis Requires a Firm to Consider the External Forces

question 99

Multiple Choice

situation analysis requires a firm to consider the external forces and trends that affect it.Some of these may be favorable to the organization while others may be unfavorable.Which of the following is an example of an external force?

• A) The firm buys its own fleet of trucks, so it no longer needs to hire a trucking company for distribution.
• B) A hiring freeze is put into place. Although no one is fired, no one can be hired.
• C) A goal is set to close the gap between production costs and profits.
• D) A local government requires that all businesses within the city limits must recycle or be fined.
• E) Shareholders are rewarded with a sizeable dividend check.

Understand the impact of social media on interpersonal interactions.

Recognize the role of social networks in job searches and how they reflect social characteristics.

Comprehend the effect of group size on dynamics and stability.

Identify the conditions under which groupthink is more likely to occur.

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Definitions:

Productivity

Productivity is the measure of efficiency with which goods and services are produced, often quantified as output per unit of input.

Quality

The degree to which a product, service, or process meets specified requirements and satisfies customer expectations.

Resource Utilization

The effective and efficient use of assets, materials, and labor within an organization to maximize output or productivity.

Competitive Advantage

denotes a condition or circumstance that puts a company in a favorable or superior business position compared to its competitors.