The pestel model - Study guides, Class notes & Summaries
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MNG3701 - Strategic planning - LU3: Strategic Analysis: analyzing the external environments. 2 || All Questions Answered Correctly.
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Importance of Analyzing the External Environment correct answers -Managers can mitigate threats. 
-Managers can leverage opportunities. 
-Gain understanding of potential impacts. 
-Understand the source / proximity of factors. 
 
The PESTEL Model correct answers -Groups environmental factors into six segments: 
--Political 
--Economic 
--Sociocultural 
--Technological 
--Ecological 
--Legal 
These factors can create: 
--Opportunities 
--Threats 
 
Political Factors correct answers -Processes &...
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International Marketing – Lectures || with 100% Correct Answers.
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Why is international marketing important? correct answers Creates opportunities for: 
1. COUNTRIES 
- economic advantage - growth of consumption, higher spending on economy, expansion of economy 
- economic multiplier - creates jobs, builds on existing capabilities. 
2. FIRMS 
- opportunities for expansion, growth of profitability and revenues 
- larger market access, economies of scale 
- take advantage of differing wants and needs with increased economies of scope 
3. PEOPLE 
- creates jobs, b...
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WPC 480: M1-M13 QUESTIONS AND ANSWERS 100% PASS
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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...
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Globus Exam 2 2023 questions and answers
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PESTEL model 
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 
process and actions of government bodies that can influence the decisions and behavior of firms 
 
 
 
economic factors 
largely macroeconomics, affecting economy-wide phenomena 
 
 
 
sociocultural facto...
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MGT 8803 – Marketing Latest Update 100% Pass
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MGT 8803 – Marketing Latest Update 100% Pass 
Marketing Strategy Finding opportunities and developing profitable strategies to capitalize on those opportunities: Specifies a target market and related marketing mix. 
5 Cs of Marketing 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: Envir...
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BADM 449 Exam 1 || with Error-free Solutions.
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Describe the PESTEL framework for evaluating the impact of external factors on the firm. correct answers Political: government pressures, subsidies + incentives, lobbying, differences in countries 
Economic: growth rates, interest rates, employment levels, currency exchange 
Sociocultural: norms, cultures, values, demographics, lifestyle changes 
Technological: innovation in products/processes, research + development 
Ecological: global warming, sustainability, pollution 
Legal: court system, le...
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WPC 480 FINAL EXAM QUESTIONS WITH 100% CORRECT ANSWERS ALREADY GRADED A+
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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. 
 
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WPC 480 Final Exam Questions and Answers Latest Updated 2024 (Graded A+)
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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...
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Globus Exam 2024 with 100% correct answers
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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
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MNGT 4800 Zachary Exam 2 (Ch3&4) with Correct Answers 100%.
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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...
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