Understanding the remote environment

Answer each question with a minimum of 100 words each. Provide references and citations after each question. Does not need to be formatted like an essay

-Consider the organization (Integrated Project Management Company https://www.ipmcinc.com/). What economic, social, political, technological, and/or ecological factors must be taken into account when evaluating the remote environment?

-Locate an organization in the news and explain how it is trying to create value and competitive advantage in its industry/sector.

(The news article you reference should be a current article found in a reliable publication, like your local newspaper, the Wall Street Journal, Business Week magazine, etc.)

-How should BP have handled an external environmental analysis and what environmental changes and trends (opportunities and threats) might the firm have discovered?

-What would a competitor of BP now discover about the firm by completing a competitor analysis?

-Why is it important for a firm to study and understand the external environment?

-How do the five forces of competition in an industry affect its profitability potential? Explain.

-What is a strategic group? Of what value is knowledge of the firm’s strategic group in formulating that firm’s strategy?