Understanding the Status and Trends of an Industry Can Be

question 48

Multiple Choice

Understanding the status and trends of an industry can be aided by ________.

• A) Checking out the internet public library, your local Small Business Administration, chamber of commerce, or local business school or college library
• B) Looking for recent articles on the industry in magazines or by using Google or other search engines
• C) Looking on competitors' Web sites
• D) All of the above
• E) None of the above

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Definitions:

Lobbying

The act of attempting to influence the decisions of government officials or legislative bodies through advocacy, communication, or pressure.

Benchmarking

The process of comparing one's business processes and performance metrics to industry bests or best practices from other companies.

Forming Stage

The initial phase of team development where members meet and start to work together for the first time.

Organizational Environments

encompasses the various external and internal factors that influence how an organization operates, including economic, technological, social, legal, and political elements.