Asked by Takafumi Yoshida on Jul 02, 2024
Verified
Refer to Scenario 2.1. Blockbuster's competitive environment includes which of the following?
A) its customers, HR strategy, new entrants, core capabilities
B) its environmental scanning and analysis
C) its environmental analysis, strategic planning, and HR strategy
D) its customers, rival firms, new entrants, substitutes, and suppliers
Competitive Environment
The dynamic external context in which businesses compete for customers, characterized by the presence of rival firms, demand conditions, and market forces.
Environmental Scanning
The process of systematically gathering information about the external environment to identify trends, opportunities, and threats that could impact an organization.
Core Capabilities
The essential skills, knowledge, and competencies that give a company a competitive edge in its industry.
- Comprehend the principle of environmental scanning and its significance in strategical planning.
Verified Answer
KS
Karan SethiJul 03, 2024
Final Answer :
D
Explanation :
Blockbuster's competitive environment includes factors that directly impact its market position and ability to compete, such as its customers, rival firms (like Netflix and Rogers On Demand), new entrants into the market, substitutes (alternative ways to access movies and games), and suppliers (of movies and games). These elements are crucial in understanding the competitive pressures Blockbuster faced.
Learning Objectives
- Comprehend the principle of environmental scanning and its significance in strategical planning.