External Environmental Scanning Discussion question

What is the external environmental analysis process (four parts)? What does the firm want to learn when using this process? (150 to 200 words (1) scholarly source)

How do the five forces of competition in an industry affect its profitability potential? Explain. (150 to 200 words (1) scholarly source)

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Q 1. Parts of the external environment analysis

An analysis of the organization’s environment is a strategic tool. It enables the policymakers to determine the factors that influence the growth of a company. The process includes determining threats, strengths, opportunities and weaknesses so that the firm can adopt mechanisms that will boost performance.

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