Pestel model - Study guides, Class notes & Summaries

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...

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'...

AFI strategy framework correct answer: A model that links three interdependent strategic management tasks—analyze, formulate, and implement—that, together, help managers plan and implement a strategy that can improve performance and result in competitive advantage. 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 fact...

MGMT 489 Chap 3 Exam Questions With 100% Correct Answers 2024/2025 Which of the following helped Airbnb develop a successful business in the peer-to-peer rental space? - answer-presenting a well-designed website -fortuitous timing that led to growing demand -developing a smooth transaction between hosts and guests When managers understand the forces in the external environment, they are better able to ______. - answermitigate threats and leverage opportunities In the PESTEL model, politi...

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...

MGMT 489 Chap 3 Exam Questions With 100% Correct Answers 2024/2025 Which of the following helped Airbnb develop a successful business in the peer-to-peer rental space? - answer-presenting a well-designed website -fortuitous timing that led to growing demand -developing a smooth transaction between hosts and guests When managers understand the forces in the external environment, they are better able to ______. - answermitigate threats and leverage opportunities In the PESTEL model, politi...

MGT 8803 SUPPLY CHAIN EXAM QUESTIONS AND ANSWERS 100% PASS Strategy can be best described as the goal directed actions to gain and sustain ___? - high performance in advancing industry capabilities - superior performance in the markets in which the firm operates - long term financial profits and economic viability - operational improvements and product advancements - the earth's environment and the well-being of the communities in which the firm operates superior performance in the market...

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...

Strategy integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage. - set of goal-directed actions a firm takes to gain and sustain superior performance relative to competitors Vision A picture of what the firm wants to be and, in broad terms, what it wants to achieve - What do we want to accomplish? Mission Specifies the businesses in which the firm intends to compete and the customers it intends to serve...