An external analysis,the second step of the strategic management process,helps identify ________.
A)a company's opportunities and threats
B)the financial ratios the company should use
C)a company's strengths and weaknesses
D)the short-term goals for a company

Question

Quizplus · Accepted Answer

An external analysis is conducted to identify a company's opportunities and threats in the external environment. It helps the company to understand the market trends, competitor activities, regulatory changes, and other factors that may impact their business operations. By analyzing these external factors, companies can develop strategies to capitalize on the opportunities and mitigate the threats. Therefore, option A is the best choice. Option B, C, and D are incorrect because they do not represent the purpose of an external analysis.

An External Analysis,the Second Step of the Strategic Management Process,helps