Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
expand_more
expand_more
format_list_bulleted
Textbook Question
Chapter 8.3, Problem 1CTQ
How would you approach this issue if you were the manager in charge of sourcing raw materials for LEGO? How would PESTEL analysis inform your actions?
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
How would you approach this issue if you were the manager in charge of sourcing rawmaterials for LEGO? How would PESTEL analysis inform your actions?
When BCG revised its advice about how to use its matrix, it determined that market share was less important in driving a firm’s profitability. It included new drivers of performance. What is one of these new drivers?
Assess how Aldi company could modify its business-level strategy to both increase your overall level of satisfaction and to attract new customers?
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...
Additional Business Textbook Solutions
Find more solutions based on key concepts
Ravenna Candles recently purchased candleholders for resale in its shops. Which of the following costs would be...
Financial Accounting (12th Edition) (What's New in Accounting)
E2-13 Identifying increases and decreases in accounts and normal balances
Learning Objective 2
Insert the mis...
Horngren's Accounting (11th Edition)
A piece of equipment is purchased for $40,000 and has an estimated salvage value of $1,000 at the end of the re...
Construction Accounting And Financial Management (4th Edition)
Use the following information from Kentucky Companys financial statements to determine operating net cash flows...
Principles of Accounting Volume 1
Define cost pool, cost tracing, cost allocation, and cost-allocation base.
Cost Accounting (15th Edition)
E2-13 Identifying increases and decreases in accounts and normal balances
Learning Objective 2
Insert the mis...
Horngren's Accounting (12th Edition)
Knowledge Booster
Similar questions
- You must choose a fast food chain or analyze K. F. C. critically from a strategic standpoint for this topic. For your information, the analysis should cover the following topics and be sent to the CEO of the company. 1. Give a brief description of the organization and mention its mission, vision, and basic values.2. Next, use PESTLE analysis to critically examine how the organization's macroenvironment is affecting it.3. Use Porter's Five Forces Analysis to determine the competitive environment.4. Use the Value, Rare, Imitability, and Organizational Support (VRIO) framework to assess the organization's strategic capabilities.5. Analyze the organization's current plans critically and offer a variety of workable, alternative future strategies that could be adopted by the company. To create strategic possibilities, you must use the Ansoff matrix and Porter's framework for generic strategies.arrow_forwardHow do you describe Kibbles and Bits, and how would you share the competitive intelligence needed through environmental scanning to forecast future sales?arrow_forwardDefine/explain following terms in your own words (Short Note): 1). Risk 2). Management by Objective (MBO) 3). Long Term & Short Term Plan 4). Business Model 5). SWOT Analysisarrow_forward
- Explain the following based on your knowledge and give sample scenario in the business: 1. Portfolio Analysis 2. SWOT Analysis Elaborate your answer.arrow_forwardDevelop a SWOT Analysis of your organization. Indicate how each of the strengths listed can be used to gain and/or maintain the organization’s competitive advantage.arrow_forwardHow would you describe the competitive advantage in Ocado’s business, compared to its larger rivals?arrow_forward
- How do i make recommendations to a MD on how to stratergise for competitive advantage and thus achieve company success through making wedding event offerings more attractive compared to other comopanies?arrow_forwardImagine you are responsible to implement the first phase of Planning in Juran trilogy. What action do you take during this phase? a. Select the Profitable customer b. Achieve higher performance better than the past c. Identify the needs of customer d. Identify the Internal and External customersarrow_forwardWhat was the author expressing in Chapter 3 and Chapter 4 of Strategic Management by Reed Kennedy. https://doi.org/10.21061/strategicmanagement CC BY NC-SA 3.0arrow_forward
- good day tutor! im here to cure my doubts i hv 1 question. please kindly help solve. Required: selected company: Pfizer Inc. 1. Prepare a PESTLE analysis for Pfizer Inc. (4 points for each component–political, economic, social, technological, legal, environment). Provide at least 6 relevant examples. It is suggested to take into consideration about the current situation happening nationally and globally. (such as Covid19/economic recession/all the downfall & downturns happened due to Covid19) Thats all. tutor, i hope for a clear, precise & easy-to-understand explantions. (non-plagiarized answers) thanks tutor! much appreciated~arrow_forwardShould firms such as apple maxmize their profits or should they sacrifice some profits to do goodarrow_forwardDiscuss five (5) conditions or factors that have necessitated the increased significance ofProcurement Management in recent times?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
