Opportunities allow a company to exploit conditions in the environment while threats can lead to damage to a company’s integrity

The five competitive forces model expands the arena of competitive analysis beyond direct competitors (i.e., rivals) to include buyers and suppliers who may also be a source of competition

Demographic, economic, political/legal, sociocultural, technological, global, and sustainable physical are the seven elements comprising the general environment

Any competitor intelligence practice that is legal is also ethical

The bankruptcy filings by major corporations during the Great Recession illustrate that firms cannot directly control the general environment’s segments

Scanning involves detecting meaning through early signals of environmental changes and trends

When firms analyze the external environment, they typically have complete and unambiguous data

Age structure, geographic distribution, income distribution, interest rates, and process innovations are all elements of concern when studying the demographic segment of the general environment

Early adopters of new technology often achieve higher market shares and higher returns than later adopters of the technology

Firms can directly control the elements of the seven segments of the general environment