PESTEL Study guides, Class notes & Summaries

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...

Marketing Strategy correct answer: Finding opportunities and developing profitable strategies to capitalize on those opportunities: Specifies a target market and related marketing mix. 5 Cs of Marketing correct answer: Customer: buyers with needs the company aims to fulfill Company: goods or services provider fulfilling customer need Competitors: Orgs aiming to fulfill the same need as company Collaborators: external entities that work with company to create value Context: Environmen...

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: 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...

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...

Ackbar, Inc. has had high growth in profits for several years, and each year it has had the highest profits ever. What can you assess about Ackbar's strategic competitive advantage? - Answer- Can assess nothing about competitive advantage. Firms that outperform all their competitors must have a high quality strategy. - Answer- False It is not rare that a CEO of a large, public organizations will be given a raise and/or bonus even though the profitability of the firm has been negative for ...

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...

What structure for Ethical considerations? Tucker's 5 Questions What structure for deciding strategy on public sector projects Public Sector Portfolio Matrix ACCA - 5 Skills? Commercial Acumen -Judgement - Awareness Analysis -Investigate -Enquire -Consider Communication -Inform -Persuade -Clarify Evaluation -Assess -Estimate -Appraise Scepticim -Probe -Question -Challange What model for environmental? PESTEL 5 Forces National What model for competitiveness? ...

The Four P's of Marketing - Answer-1. Product 2. Pricing 3. Place 4. Promotion The Fifth P of Marketing - Answer-Purchaser Industrial Products - Answer-Sold to a business Consumer Products - Answer-Sold to consumer Product Life Cycle - Answer-Product Development Introduction Growth Maturity Decline Market Segments - Answer-Groups of people who share one or more of the following characteristics: Geographic Demographic Psychographic Behavioral Four Pricing Strategies - Answer-1. ...