Timber King is a new Midwest company in the portable saw mill industry. You have been asked to give Edward Perry, Timber King's new CEO, general advice and guidelines to assist him in doing an external analysis of the portable saw mill industry.
Part A: Explain three benefits of conducting an external analysis.
Part B: Educate Mr. Perry on some of the challenges of conducting an external analysis.
Part C: Explain the two perspectives on the environment.
Part D: Explain the primary responsibility of Mr. Perry's managers in conducting external analysis.