Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Ent 1 Obj 2.03
Environmental Scan
| Term | Definition |
|---|---|
| 1.Brand Competition | Competition between two similar products |
| 2.Business Cycles | Periods of expansion and contraction in economic activities |
| 3.Competition | The rivalry between two or more businesses to attract scarce customer dollars |
| 4.Culture | The Customs,Habits,and Traditions of a particular group of people |
| 5.Demographics | The physical and social characteristics of the population |
| 6.Dynamic | Changing;changeable(able to be changed) |
| 7.Economy | The system in which people make and spend their incomes |
| 8.Environmental Scanning | Collecting information about the environment |
| 9.Exchange Rate | The price or value at which one currency can be converted to another |
| 10.External Environment | A business's external,uncontrollable surroundings;consists of elements such as Demographics,Society and Culture,The Economy,Competition,Government,and Technology |
| 11.Fiscal Policy | The government Policy that sets levels of government spending and taxation |
| 12.General Competition | Competition among all businesses for scarce customer dollars |
| 13.Inflation | A rise in prices that may occur when demand exceeds supply or when productivity declines and costs of labor go up |
| 14.Internal Environment | A business's internal,controllable surroundings;consists of elements such as Finances,Personnel,Research and Development,Production,and Marketing |
| 15.Market Research | The Systematic Gathering,Recording,and Analyzing of data about a specific issue,Situation,or concern that affects a market |
| 16.Marketing Campaign | A business's organized efforts to promote a certain product or line of products |
| 17.Monetary Policy | The government policy that deetermines the amount of money that will be in circulation and the level of interest rates |
| 18.Opportunity | A favorable situation in the environment surrounding your business |
| 19.Prosperity | A state of economic growth |
| 20.Recession | A state of economic decline |
| 21.Recovery | A period of time in which an economy grows from recession to prosperity |
| 22.Social and Cultural Attitudes | The belief and feelings of people in a society that cause them to act in certain ways |
| 23.Society | A group of individuals who share an environment |
| 24.Strategic Planning | Long-range planning(Three to Five years)for the company as a whole |
| 25.Strength | Any resource or capability your business has that can help you gain a competitive advantage in your industry |
| 26.Subsidy | Government financial help given to a business |
| 27.Substitute Products | Goods and/or services that can be used in place of other;items that satisfy the same needs/wants |
| 28.Tactics | Specific actions that will be used to carry out strategies |
| 29.Threat | Any unfavorable situation in the environment surrounding your business |
| 30.Zoning Regulations | Laws governing the use of land |
Created by:
user-2014872
Popular Business sets