Pestel Study guides, Class notes & Summaries

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. ...

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...

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...

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...

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 ...

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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? ...

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

*Disclaimer:- The MCQs do not guarantee pass mark in exams. Though, the content is verified based on the content available in Google, usage of the same is at your own risk. If you find any answers missing or identify anything wrong, please intimate for the benefit of the entire group. Corrections will be done accordingly. Subject 1--Strategic Management—Compiled by Niraja Set 1:- Q1. Which of the following are typically seen as being associated with strategic decisions? Q2. Which strateg...

Key forces in the external environment (PESTEL Framework) correct answers -Simple way to categorize & analyze external forces -Forces embedded in global environment -Creates BOTH opportunities and threats Political correct answers Gov't pressures Subsidies & incentives Differences in countries, states, Countries & regions Economic correct answers Growth rates Interest rates Employment levels Currency exchange Sociocultural correct answers Norms, culture, values Demographics Li...