The pestel model Study guides, Class notes & Summaries

Environment correct answers consists of the set of external conditions and forces that have potential influence on the organization What are some examples of outside conditions and forces that could influence an organization? correct answers Customers, Rivals, Economic Conditions, Events (weather-related) 3 Reasons why the Environment matters: correct answers 1. Source of Resources: inputs, capital, labor, and customers 2. Source of Opportunities and Threats: 3. Shapes Strategic Decisio...

With the increasing presence of Internet e-commerce sites, the force of customers has correct answers leveled off. To evaluate an organization's internal opportunities and threats, management can conduct a PESTEL (political, economic, sociocultural, technological, environmental, and legal) analysis. correct answers False A branch manager for a national car rental company is in the process of conducting a SWOT analysis for her location. Which of the 5 Ps can she examine using the company'...

PESTEL model - correct answer A framework that categorizes and analyzes an important set of external factors (political, economic, sociocultural, technological, ecological, and legal) that might impinge upon a firm. These factors can create both opportunities and threats for the firm. political factors - correct answer process and actions of government bodies that can influence the decisions and behavior of firms economic factors - correct answer largely macroeconomics

WPC 480 Final Exam Questions and Answers Latest Update 2023-2024 | 100% Verified. What is competitive advantage? - Superior performance relative to other competitors in the same industry or the industry average. How do you assess competitive advantage? - Compare firm performance to a benchmark. What is sustainable competitive advantage? - Outperforming competitors or the industry average over a prolonged period of time. What is competitive disadvantage? - Underperformance relative to other...

Core Competencies embedded strengths enabling value-creation Capabilities strategically orchestrating diverse resources Resources assets leveraged for strategy/ formulation Looking Inside the Firm for Core Competencies Competitive advantage derives from core competencies, which enable: 1. Differentiation of products/services creating perceived value, or 2. Cost leadership - offering products/services of comparable value at lower cost (Diagram) Looking Inside the...

Environment correct answers consists of the set of external conditions and forces that have potential influence on the organization What are some examples of outside conditions and forces that could influence an organization? correct answers Customers, Rivals, Economic Conditions, Events (weather-related) 3 Reasons why the Environment matters: correct answers 1. Source of Resources: inputs, capital, labor, and customers 2. Source of Opportunities and Threats: 3. Shapes Strategic Decisions...

Marketing - Creation and satisfaction of demand for a product or service. Digital Marketing - Utilizing the internet and other digital channels to drive demand for products and services Strategy - Set of ideas that outline how a product or brand will meet its objectives Tactic - A specific action or method that contributes to achieving a goal. Components of GOST strategy - Goals Objectives Strategies Tactics What are the Five Cs? - Customers Company Collaborators Competitors...

WPC 480 Final Exam Questions and Answers Latest Updated 2024 (Graded A+) What is strategy? - An integrated set of goal-directed actions a firm takes to gain and sustain competitive advantage. What are the 2 business analysis? - Internal and External. What are the 3 business strategies? - 1) Cost, 2) Differentiation, 3) Innovation. What is competitive advantage? - Superior performance relative to other competitors in the same industry or the industry average. How do you assess competitive a...

LATEST MNG3701 - STRATEGIC PLANNING : STRATEGIC ANALYSIS: ANALYZING THE EXTERNAL ENVIRONMENTS. UPDATED Importance of Analyzing the External Environment -Managers can mitigate threats. -Managers can leverage opportunities. -Gain understanding of potential impacts. -Understand the source / proximity of factors. The PESTEL Model -Groups environmental factors into six segments: --Political --Economic --Sociocultural --Technological --Ecological --Legal These factors can create: --O...

WPC 480 Final Exam Practice Questions and Answers With Complete Solution Latest 2023-2024. What are the 2 business analysis? - Internal and External. What are the 3 business strategies? - 1) Cost, 2) Differentiation, 3) Innovation. What is competitive advantage? - Superior performance relative to other competitors in the same industry or the industry average. How do you assess competitive advantage? - Compare firm performance to a benchmark. What is sustainable competitive advantage? - Out...