Strengths and weaknesses are part of a firm's internal environment.

Question

Quizplus · Accepted Answer

Strengths and weaknesses are internal factors that affect a firm's ability to compete in the market. Strengths are attributes that are beneficial to achieving the organization's objectives, while weaknesses are attributes that are harmful to achieving those objectives. They are part of a firm's internal environment because they are within the control of the organization and can be modified through managerial actions.

Strengths and Weaknesses Are Part of a Firm's Internal Environment