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True or False: The goal in environmental scanning is to gather internal environmental data to identify future market opportunities and threats.

User Dkobozev
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Final answer:

The statement is false because environmental scanning involves gathering data from both internal and external sources to identify opportunities and threats, and comparative advantage can stem from various sources beyond natural elements.

Step-by-step explanation:

False: The goal in environmental scanning is not solely to gather internal environmental data to identify future market opportunities and threats.

Environmental scanning is a strategic process used by organizations to monitor both the internal and external environments to detect early signs of opportunities and threats that may influence its current and future plans. While internal data provides information about the firm’s own capabilities and issues, the external environment includes factors such as competitors, market trends, regulatory changes, and technological advancements.

In addition, the source of comparative advantage can come from many different sources, not just natural elements. This can include factors such as skilled labor, technological innovation, advanced manufacturing procedures, or even a country or company's ability to provide unique services or goods. These sources of comparative advantage enable entities to produce goods or services at a lower opportunity cost than others.

User Fejs
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