The ______ environment is composed of dimensions in the broader society that can influence an industry and the firms within it.
A) general
B) competitor
C) sociocultural
D) industry

Question

Quizplus · Accepted Answer

The general environment is composed of dimensions in the broader society that can influence an industry and the firms within it. These dimensions include economic, technological, sociocultural, demographic, political/legal, and global factors. The competitor environment includes other firms in the industry, while the sociocultural environment specifically refers to social and cultural factors such as values, beliefs, norms, and lifestyles. The industry environment includes the specific industry in which a firm operates.

The ______ Environment Is Composed of Dimensions in the Broader