Scenario $3-2.$ Terry's Technology Service is currently conducting a SWOT analysis of the business. Several differing factors have been observed. One of the major strengths of Terry's

business is that he has kept current with all the new technologies that have been developing. The ability to adapt the technologies to business applications has been a key feature of

the business. A definite weakness of the business is that Terry's cash flow has been strained lately due to the capital investments that are necessary in order to keep up with current

technological advances. Owing to Terry's good relationship with his customers, he is getting many referrals for new customers. A recent consideration is his competition. A new

business has started in town that is offering similar services.

In Scenario $3-2,$ Terry's new competition and his potential customer referrals are examples of which environment?

a$.$ internal environment

b$.$ technological environment

c$.$ economic environment

d$.$ external environment