The ____ environment is composed of elements in the broader society that can influence an industry and the firms within it.

Question

Quizplus · Accepted Answer

The general environment refers to the broader societal factors that can impact an industry and the firms within it, such as technological, economic, political, demographic, and sociocultural trends. The competitor environment refers specifically to the firms that compete within the industry. The sociocultural environment is a subset of the general environment that focuses on cultural and social factors. The industry environment refers to the specific factors and competitive forces within a particular industry.

The ____ Environment Is Composed of Elements in the Broader