To successfully deal with today's external environment and to achieve strategic competitiveness, firms must be aware and fully understand the different segments of that environment.

Question

Quizplus · Accepted Answer

Understanding and adapting to the external environment is crucial for a firm's success in achieving strategic competitiveness. It involves analyzing different segments of the environment, such as industry, market, technology, legal, social, and economic factors, and identifying opportunities and threats that may affect the firm's performance. By doing so, the firm can develop effective strategies to leverage its strengths and overcome weaknesses, and adapt to changes in the environment to remain competitive.

To Successfully Deal with Today's External Environment and to Achieve