Managers at Molly's Closet,a clothing retailer,engage in an annual organizational assessment as part of an attempt to predict changes as well as possible opportunities and threats.They look at issues such as who their competitors are,how many entry barriers there are in the industry and what substitutes exist for their products.This assessment is called

Question

Quizplus · Accepted Answer

The assessment described focuses on analyzing the external environment for potential opportunities and threats, which is known as environmental scanning. A SWOT analysis, while related, typically includes an analysis of internal strengths and weaknesses in addition to external opportunities and threats. Scenario development and forecasting typically involve predicting future trends and events, while benchmarking involves comparing a company's performance to industry standards.

Managers at Molly's Closet,a Clothing Retailer,engage in an Annual Organizational