Describe a historical situation where a failure to assess and correctly interpret the external environment resulted in a business’ failure. What elements of the external environment were missed? How might the company have corrected this oversight? Cite any sources used to support your answer.

Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2017). Strategic management: Competitiveness and globalization: Concepts and cases (12th ed.). Boston, MA: Cengage Learning. ISBN-13: 9781305502147

These are DQs need to be 150 words and cited from the highlighted book if possible.

1.Why does scanning the external environment play such a significant role in strategic analysis? How do unexpected daily events warrant significant analysis, and how would you determine their significance? As a strategic analyst, how would you approach and be prepared for their inevitable occurrence?

2.Describe a historical situation where a failure to assess and correctly interpret the external environment resulted in a business’ failure. What elements of the external environment were missed? How might the company have corrected this oversight? Cite any sources used to support your answer.

3.What is value and how is it determined and measured? In your opinion, does business generally determine and measure value appropriately? In a free market, what happens when value is not properly assessed by a business and its leaders? Give a historical example and your thoughts about how and why a disconnect occurred. Cite any sources used to support your answer

4.What makes a competitive advantage sustainable, and why is sustainability a critical strategy-making consideration? Is sustainability knowable in the medium and long term? Why or why not? Give an example to support your conclusion. Cite any sources used to support your answer

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