Environmental Monitoring and Data Collection Quiz

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What is the first step in the A-S-P model?

Performance

Analysis (correct)

Strategy

Implementation

Which factor is considered in the Analysis step of the A-S-P model?

Core competencies (correct)

Vision statement

Competitive landscape

Implementation strategies

What is the ultimate goal of implementing strategies according to the text?

Avoiding strategic actions

Maintaining conventional tactics

Achieving competitive advantage (correct)

Increasing advertising budgets

Why are economics of scale and huge advertising budgets considered less effective in today's competitive landscape?

Increased use of social media advertising Signup and view all the answers

What is emphasized as crucial for maintaining strategic management in evolving markets?

Constant analysis Signup and view all the answers

How does the text describe the current competitive landscape?

Volatile and relentless Signup and view all the answers

What is the main objective of External Environment Analysis?

To understand uncertainty and achieve competitiveness Signup and view all the answers

Which step comes first in the external environmental analysis process?

Scanning Signup and view all the answers

What do threats represent in the context of External Environment Analysis?

Conditions that may hinder or constrain a company's efforts to achieve strategic competitiveness Signup and view all the answers

Why is scanning important in the external environmental analysis process?

To identify likely opportunities and threats Signup and view all the answers

Which factor plays a significant role in achieving strategic competitiveness according to the text?

Leveraging partnerships with external parties effectively Signup and view all the answers

What is the role of top management teams in making strategic decisions according to the text?

Have better human capital, management skills, and cognitive abilities Signup and view all the answers

What is the purpose of scanning in environmental analysis?

To identify early signs of possible environmental changes Signup and view all the answers

What is the main focus of monitoring in environmental analysis?

Collecting data on identified environmental factors Signup and view all the answers

How does forecasting contribute to environmental analysis?

Developing feasible projections of future events based on scanning and monitoring Signup and view all the answers

What does assessing aim to determine in environmental analysis?

Timing and significance of the effects of environmental changes and trends Signup and view all the answers

Which segment of the general environment focuses on a population's size and age structure?

Demographic segment Signup and view all the answers

Why can't firms directly control elements in the general environment?

Because scanning helps identify changes but not control them Signup and view all the answers