Understand that the external environment is composed of a firm's market and customers, its industry and competitors, and general environmental factors like demographics, economics, politics, and technology.
- Describe detailed steps in the process for conducting an external environmental assessment.
- List some techniques that a business can use to determine what its customers value.
- Apply the acquired knowledge of customer value preferences to the planning of competitive strategies.
- Understand the concept of an industrial value chain, in contrast with a business's internal value chain
350 Words with references