A New Business (Scenario)
Bassam majored in entrepreneurship and computer science in college. After graduation, he decided to start his own business a e- business entrepreneur, founding an online B2B reverse auction company called CompuSave.
-After hiring several employees, Bassam requires that each person in this company be involved in studying trends involving new technology, competitors, and customers. These employees are involved in ________.

Question

Quizplus · Accepted Answer

The employees' involvement in studying trends involving new technology, competitors, and customers indicates that they are involved in conducting an external analysis of the company's environment. This analysis helps the company to identify and adapt to changes in its environment, which is a key aspect of strategic management. However, it is a part of external analysis rather than strategic flexibility or internal environment.