Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 8.3, Problem 1CC
Describe a firm’s macro environment.
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Chapter 8 Solutions
Principles of Management
Ch. 8.1 - Why do managers use strategic analysis?Ch. 8.1 - How are internal factors different from external...Ch. 8.2 - Explain the elements of a SWOT analysis.Ch. 8.2 - What information does a SWOT analysis provide...Ch. 8.3 - Describe a firms macro environment.Ch. 8.3 - What does PESTEL stand for? How do managers use...Ch. 8.3 - How would you approach this issue if you were the...Ch. 8.3 - What PESTEL challenges is LEGO trying to address...Ch. 8.3 - Explain what favorable PESTEL factors support...Ch. 8.4 - Describe each of Porters Five Forces. What...
Ch. 8.5 - What are firm resources and capabilities?Ch. 8.5 - Describe a value chain and what the activities in...Ch. 8.5 - What is VRIO? What questions do the letters stand...Ch. 8.5 - What resource or capability challenges have Uber...Ch. 8.5 - What PESTEL factors do you think are contributing...Ch. 8.5 - What industry challenges (think of Porters Five...Ch. 8.6 - What is competition, and what is the role of...Ch. 8.6 - When does a firm have a competitive advantage over...Ch. 8.6 - Explain the differences between the three...Ch. 8.7 - How does strategic analysis help a firm develop...Ch. 8 - Why do managers use strategic analysis?Ch. 8 - What information does a SWOT analysis provide...Ch. 8 - Describe a firms macro environment and how...Ch. 8 - What is a firms micro environment, and why is it...Ch. 8 - What is an industry, and how do Porters Five...Ch. 8 - What are firm resources and capabilities, and what...Ch. 8 - When does a firm have a competitive advantage over...Ch. 8 - What are generic competitive strategies, and how...Ch. 8 - What do strategic group members have in common...Ch. 8 - How does strategic analysis help a firm develop...Ch. 8 - What PESTEL factors supported Teslas success?...Ch. 8 - How has Teslas strategic position changed since it...Ch. 8 - What kind of responses would you expect from...
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Similar questions
- Choose an industry and a firm within that industry (which can be real or imaginary, but should not be one of the examples from the industry life cycle stages discussion in the PPTs). Using our explanation of what happens in each of the industry life cycle stages, describe one specific thing the firm would need to do to avoid going out of business during the “shakeout” stage and one thing the firm should do after that stage but not before it.arrow_forwardUsing the Porter model, explain how Virgin America’s generic business-level strategy impacted its industry position.arrow_forwardUsing the three disntinctive generic business strategy by Porters, which business strategy is most suitable for investment company that deals with assets managementarrow_forward
- Explain graphically Competitivemarket positions and roles?arrow_forwardName and discuss the elements of a company's microenvironment and give an example illustrating why each is important.arrow_forwardHow does a company become the most admired and financially valuable organi-zation in the world?arrow_forward
- defensive diversification explanationarrow_forwardCompare and contrast related and unrelated diversification. When will unrelated diversification be more useful?arrow_forwardI. Write ME if the following statement describe macro environment and me if it is micro environment. 1. External to and beyond the control of the company 2. The larger societal forces that affect the whole micro environment 3. Internal situations that directly affect the organization 4. Components: company itself, marketing channel firms. 5. Closely interrelated with each other and are dynamic 6. May directly and indirectly affect the firm 7. Characterized by basic variables that contribute to business survival, profitability, and success 8. Demographic, economic, natural, technological, political, and cultural forcesarrow_forward
- What motives might encourage managers to over diversify their firm?arrow_forwardDescribe your industry, including its current size and historic growth rate as well as other trends and characteristics(e.g., life cycle stage, projected growth rate). (nails industry)arrow_forward1.Describe how a company’s mission statement and objectives affect the way management plans its business portfolio. 2.What does the economic environment consist of as far as marketers are concerned, and why is it so important for them? 3.Who are the Gen Zers, and why will they become interesting to marketers in the future?arrow_forward
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