Scenario B

question 61

Multiple Choice

Scenario B. Use the information in the following paragraph to answer the questions that follow. You and a fellow investor are investigating the possibility of starting a new casino in Black Hawk, Colorado, a small town in the Rocky Mountains. It has been your lifelong dream. You have won the lottery and are trying to decide if this is what you want to do with your prize money. You decide to do an analysis of the competitive environment. After your analysis, you discover several important issues. First, it will cost most of your lottery winnings to finance a casino in Black Hawk! Second, it will be difficult to attract new customers because they have so many choices available to them in Black Hawk and the surrounding small towns. Finally, the competition in the casino industry is considered "fierce" by industry analysts and this is frightening to someone who has never even worked in the casino industry.
-The information that you have collected in your competitive analysis can be referred to as:

• A) forecasting.
• B) competitive intelligence.
• C) environmental scanning.
• D) benchmarking.
• E)E. scenario development.

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Definitions:

Loaded Question

A fallacy that assumes a particular answer to another unasked question.

Unwarranted Assumption

An argument based on a premise which lacks evidence to support it, leading it to be erroneous.

Natural

Existing in or derived from nature; not made or caused by humankind.

Good

A concept that denotes positive moral qualities, beneficial outcomes, or something that is desirable and approved of in a society.