Question: Strategic Management class work 1. Why is it essential for a firm to study and understand the external environment? 2. What are the differences between

Strategic Management class work 1. Why is it essential for a

Strategic Management class work

1. Why is it essential for a firm to study and understand the external environment? 2. What are the differences between the general environment and the industry epvironment? Why are these differences important? 3. What are the seven segments of the general environment? Explain the differesces among them. 4. What is a strategic group? Of what value is knowledge of the firm's strategic group in formulating that firm's strategy? 5. What is the importance of collecting and interpreting data and information about competitors? What practices should a firm use to gather competitor intelligence and why

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