What is environmental scanning?a. It is identifying the emerging trends that will affect your business.O b. Involves scanning competitors strategies.Oc. Involves surveillance of the external environment to predict changes and detect changes in already in progress.O d. Monitoring customer to spot key emerging changes in behavior.

Environmental scanning is a strategic approach that involves actively monitoring and analysing an…

Answered: What is environmental scanning? a. It…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

A supplier of high fashion clothing wants to learn about future trends in dress designs. How could an enterprise resource-planning system facilitate achievement of this objective? Group of answer choices O. Generate predictive models of future sales. O. Research competitive textile suppliers. O. Calculate cost of product inventory. O. Integrate buyer product plans in system.
Benchmarking allows a company to ______________________ Select one: a.identify its strengths and weaknesses. b.imitate those ideas that are readily transferable. c.improve on methods in use by others. d.all of the above.
WHich of the following statements about customer value metrics is correct? A)Customer Equity (CE) is an indicator of how much the firm is worth at a particular point in time as a result of the firm's customer management efforts. B) Life-Time Value (LTV) is a forward-looking measure with consideration of the time value of money, allowing for short-term decision making. C) Past Customer Value (PCV) is a useful method because it considers whether a customer is going to be active in the future.
Where do businesses find the data they need to understand more about their customers? a. The data their customer exchanges for value. b. Lead user data. c. Supply chain partners. d. All of the above.
Please answer A-C with the most true answer. A. Which of the following is most closely associated with return on assets? a. The cost of equity b. The proportion of debt and equity in the company’s capital structure c. The prime lending rate d. The average operating assets of the company B. Which of the following is most closely associated with expenses? a. Product (value propositions) design(s) b. Average operating assets c. Proportion of debt and equity in the company’s capital structure d. Equity risk premium C. Which of the following is most closely associated with the cost of debt? a. Non-operating expenses b. Risks specific to the company c. The long-term bond yield d. Prime lending rate
Tick or Circle the most appropriate response Innovation is A concept that analyses production, distribution and consumption of goods The creation of better or more effective products, processes, technology or ideas ü A computerized method of designing better products An engineering process which is cost-effective Which of the following statements is not correct? When variation is found between actual performance and required objective, managers take action KPI does mean Key performance indicator Choosing a right performance indicator is often a challenge for Managers Non-statistical method is easy way to measure and compare performances Organizational culture can affect all components except: Work practices Value of time Availability of raw material Relationships between staff and management Managers need to examine internal and external factors for risk management. External factors for risk may include all except, The economic environment Competitor’s activity…
Why is Strategic Planning critical to IT? a. To ensure that IT’s products and services meet users expectations. b. To ensure that IT’s products and services are cost effective. c. To ensure that IT’s products and services satisfy the CEO and the CFO. d. To ensure that IT’s products and services align with the enterprises Goals and Objectives.
Which of the following is true regarding the business views/goals to build a business intelligence data warehouse? * Makes an organization’s information inaccessible. Make an organization’s information inconsistent. Empowers end users and gives them control over their reporting needs.Yields small Return on InvestmentIdentifying customers with the greatest profit potential increases the likelihood that they will want the product or service offering and retain loyalty. Which of the following best describes the statement? * Research and development Product and service quality Customer selection Human capital Which of the following is NOT a reason for building a data warehouse? Provide a decentralized decision-making environment and not to rely on IT folk None of the above Provide good performance for both decision support and OLTP applications Provide answers to business questions that thus far have been unanswered
34. Which of the following is a measure of performance that, if accomplished, should lead to a desired result? a. Leading indicators b. Market share indicators
A company which is in restaurant business. How they can use analytics solutions for the given use cases? Describe what data needs to be collected and what analysis can be done in each given use case. a. Customer profiling- b. Operations improvement- c. Sales forecasting- d. Lifetime value and repeat customer trends
What is the purpose of a dashboard in business analytics? Select all that apply. A. To monitor data in real time B. To display key performance indicators c. To perform descriptive analytics D. To perform prescriptive analytics E. To display graphs and charts F. To perform predictive analytics G. To display numerical measures
Which of the following statements BEST describes the purpose of a Deability income policy? A It is used to pay for hospital, medical, and surgical expenses if a senous disability occurs. It is designed to supplement Medicare Part A benefits It is used to pay for an insured's normal living expenses if the insured becomes disabled It is designed to supplement Workers' Compensation benefits B D.

SEE MORE QUESTIONS

Recommended textbooks for you

Understanding Business

Management

ISBN:

9781259929434

Author:

William Nickels

Publisher:

McGraw-Hill Education

Management (14th Edition)

Management

ISBN:

9780134527604

Author:

Stephen P. Robbins, Mary A. Coulter

Publisher:

PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…

Management

ISBN:

9781305947412

Author:

Cliff Ragsdale

Publisher:

Cengage Learning

Understanding Business

Management

ISBN:

9781259929434

Author:

William Nickels

Publisher:

McGraw-Hill Education

Management (14th Edition)

Management

ISBN:

9780134527604

Author:

Stephen P. Robbins, Mary A. Coulter

Publisher:

PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…

Management

ISBN:

9781305947412

Author:

Cliff Ragsdale

Publisher:

Cengage Learning

Management Information Systems: Managing The Digi…

Management

ISBN:

9780135191798

Author:

Kenneth C. Laudon, Jane P. Laudon

Publisher:

PEARSON

Business Essentials (12th Edition) (What's New in…

Management

ISBN:

9780134728391

Author:

Ronald J. Ebert, Ricky W. Griffin

Publisher:

PEARSON

Fundamentals of Management (10th Edition)

Management

ISBN:

9780134237473

Author:

Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo

Publisher:

PEARSON

SEE MORE TEXTBOOKS