While a single firm cannot control the elements in the external environment,a firm can sometimes influence that environment.

Question

Quizplus · Accepted Answer

A firm can sometimes influence the external environment through its actions, such as lobbying for regulatory changes or collaborating with other firms to shape market trends. However, there are many factors in the external environment that are beyond a single firm's control, such as economic conditions and political events.

While a Single Firm Cannot Control the Elements in the External