True / False 1. The external environment facing business stays relatively constant over time. a. True b. False ANSWER: False 2. Demographic, economic, political/legal, sociocultural, technological, global, and physical are the seven elementscomprising the industry environment. a. True b. False ANSWER: True 3. Firms can directly control the elements of the seven segments of the general environment. a. True b. False ANSWER: False 4. The bankruptcy filings by General Motors and Chrysler Corporation during the Great Recession illustrate that firmscannot directly control the general environment's segments. a. True b. False ANSWER: True 5. The industry environment directly influences a firm and its competitive actions and responses. a. True b. False ANSWER: True 6. Competitor analysis is focused on the factors and conditions influencing an industry's profitability potential. a. True b. False

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jordancarter 7 months ago

This study guide is clear, well-organized, and covers all the essential topics. The explanations are concise, making complex concepts easier to understand. It could benefit from more practice questions, but overall, it's a great resource for efficient studying. Highly recommend!

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