The three parts of the external environment which affect a firm's strategic actions are
A)economic, political, and legal.
B)general, industry, and competitor.
C)industry, business, and product.
D)local, national, and global.

Question

Quizplus · Accepted Answer

The three parts of the external environment that affect a firm's strategic actions are the general environment, industry environment, and competitor environment. The general environment includes factors such as economic, political, and legal conditions that impact all firms in the industry. Industry environment consists of factors such as suppliers, buyers, and potential new entrants that have a direct impact on the competition within the industry. Competitor environment includes the strategies and actions of the company's direct competitors. Therefore, option B: general, industry, and competitor, is the best choice.

The Three Parts of the External Environment Which Affect a Firm's