Identify how changes in the external environment affect the OM strategy for a company. For instance, discuss what impact the following external factors might have on OM strategy a) Major increases in oil prices b) Water and air quality legislation c) Fewer young prospective employees entering the labour market d) Inflation versus stable prices e) Legislation moving health insurance from a protax benefit to taxable income a) Select all of the correct impacts that major increases in oil prices might have on OM strategy below A. For the energy ineficient company change in the cost structure, result in higher selling prices 8. For a producer with high energy costs, change in the competitive position C. For the energy inefficient company change in the compotitive position ID. For a producer with high energy costs, change in the cost structure, result in higher selling prices