Why Do We Study the Global Competitive Environment

question 8

Multiple Choice

Why do we study the global competitive environment?

• A)Because doing business globally can provide access to cheaper resources which reduce costs and increase the number of potential customers which increases sales.
• B)Because outsourcing is making manufacturing in the U.S.a thing of the past.
• C)Because,as a knowledge worker,I'll probably be required to work overseas someday.
• D)Because MIS is difficult to understand without it.

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Definitions:

Strategic Planning

The process of defining a company's direction and making decisions on allocating resources to pursue this direction.

Competitive Intelligence

The gathering and analysis of information about competitors, market trends, and other external factors affecting a business's competitive position.

Globalization and Localization

The balance between adapting business practices to local cultures and markets (localization) while leveraging global trends and economies of scale (globalization).

Scenario-Based Analysis

A method of planning that uses hypothetical situations to anticipate potential challenges and devise strategic responses.