Pestel Study guides, Class notes & Summaries

WPC 480 Exam 1 Latest Update Graded A+ Strategy An integrated set of goal-directed actions a firm takes to gain and sustain competitive advantages. Vision What do we want to accomplish? Mission How do we accomplish our goals? And what do we do to accomplish our goals? Stakeholders organizations, groups, and individuals. They can affect or are affected by a firm's actions. Competitive Advantage superior performance relative to other competitors in the same industry or the in...

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...

The two business models we reviewed—Industrial Organization and Resource-Based—focus, respectively, on _____ and _____ analysis: - external; internal What is the primary objective of a company strategy? - Achieving sustainable competitive advantage. Below are several statements from companies. Which of these is a vision statement? - Habitat for Humanity: A world where everyone has a decent place to live. A mission statement can describe: - what the company does in terms of its customers...

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...

All companies operate in a broad _______-environment that is made up of six components, including political factors and technical factors. - ️️macro What acronym serves as a reminder of the components of a company's macro-environment? - ️️PESTEL Strategically relevant factors have a bearing on the ______ direction of any given company. - ️️long-term Which of the following are strategically relevant macro-environment factors affecting cigarette producers? - ️️1. cultural...

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...

WPC 480: M1-M13 QUESTIONS AND ANSWERS 100% PASS The purpose of strategy in business is to do what? To create and provide the business with sustainable competitive advantage The difference between strategic decisions and tactical decisions is one of degree. The characteristics that differentiate between a strategic decision and a tactical decision is based on which of the following. Amount of available resources consumed by the decision, Ability to reverse the decision and Temporal im...

Global Marketing Innovation summary/ lecture notes

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 advantage? Compare firm performance to a benchmark. ...

MGT 6311: Digital Marketing - Midterm Exam Marketing ANS-Creation and satisfaction of demand for a product or service. Digital Marketing ANS-Utilizing the internet and other digital channels to drive demand for products and services Strategy ANS-Set of ideas that outline how a product or brand will meet its objectives Tactic ANS-A specific action or method that contributes to achieving a goal. Components of GOST strategy ANS-Goals Objectives Strategies Tactics What are the Fiv...