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Explain How the Concept of Strategic Group (And Its Two

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Explain how the concept of strategic group (and its two sub-types) is used in a situational analysis as part of an environmental scanning activity to identify specific opportunities and threats that can either improve or harm the company's ability to sustain its competitive advantage.


Definitions:

Alternative Hypothesis

The hypothesis that suggests there is a significant difference between two variables, contrary to the null hypothesis.

Populations

In statistics, this term refers to the entire pool from which a statistical sample is drawn and is the subject of a study.

Caffeinated Beverages

Drinks that contain caffeine, a stimulant that can affect the central nervous system.

Wilcoxon Signed Rank Test

A non-parametric statistical test used to compare two related samples, testing the null hypothesis that their population mean ranks differ.

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