Environmental Scanning Is the Act of Analyzing the Critical External

question 111

Multiple Choice

Environmental scanning is the act of analyzing the critical external contingencies facing an organization in terms of:

• A)economic conditions,employees capabilities,and stakeholders.
• B)economic conditions,competitors,and customers.
• C)competitors,and economic and financial capabilities.
• D)stakeholders,community conditions and customers.

Recognize the importance of regularly updating QBO Lists and the Chart of Accounts for accurate financial tracking.

Understand and describe the essential strategies for building competitive advantage in organizations.

Analyze and differentiate between the four traditional organization designs: functional, geographic, product, and network.

Understand the concept of geographic design and discuss its benefits and disadvantages.

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Definitions:

Statistically Significant

A measure indicating that the likelihood of an observed effect occurring by chance is very low, thus suggesting a true effect.

Standard Deviations

A measure that quantifies the amount of variation or dispersion of a set of data values from the mean of the data.

Observed Difference

A noticeable variance between two or more groups or conditions in a study or observed phenomena.

Representative Samples

Select groups that closely match the characteristics of a larger population they are intended to represent, used in statistical analysis for research.