Section 2.4.2 External Environment - Vocabulary

Question 1

Marketplace Conditions

Answer 1

Include competitors, market share, brand recognition, technology trends, and trademarks

Question 2

Social and Cultural Influences and Issues

Answer 2

These factors include political climate, regional customs and traditions, public holidays and events, codes or conduct, ethics, and perceptions.

Question 3

Regulatory Environment

Answer 3

The regulatory environment may include national and regional laws and regulations related to security, data protection, business conduct, employment licensing, and procurement.

Question 4

Commercial Databases

Answer 4

Databases include standardized cost estimating data and industry risk study information

Question 5

Academic Research

Answer 5

This research can include industry studies, publications, and benchmarking results.

Question 6

Industry Standards

Answer 6

These standards are related to products, production, environment, quality, and workmanship.

Question 7

Financial Considerations

Answer 7

These considerations include currency exchange rates, interest rates, inflation, taxes, and tariffs.

Question 8

Physical Environment

Answer 8

Pertains to working conditions and weather.