Question

Prior to entering the Eastern European markets, Procter & Gamble assessed the strengths and weaknesses of possible competitors and non competitors in those markets. Procter & Gamble's actions can be classified as ________.a. setting objectives and strategies
b. analyzing the external environment
c. determining corporate resources

Answer 1

Answer

B. Analyzing the external environment

Explanation:

The action of Procter and gamble can be classified as analyzing the external environment.

The external environment of a business are those factors outside the business organisation that is capable of influencing the decision and actions.  The external environment factors includes economic factors, competitors, social - cultural factors etc.

The action of Procter and gamble of assessing the strength and weakness of his competitors prior to its entrance into the Eastern European market will assist the firm to identify the opportunities that it can leverage on in terms of the weakness of its competitors  and  and how well it can best improve its own services in other to match or surpass the strength displayed by its competitors