Graduate Essay Writers
Only the most qualified writers are selected to be a part of our research and editorial team, with each possessing specialized knowledge in specific subjects and a background in academic writing.
Order For Custom Writing, Similar Answers & Assignment Help Services
Fill the order form details in 3 easy steps - paper's instructions guide.
Posted: June 14th, 2023
An external analysis of a company is another indicator
Instructions
An external analysis of a company is another indicator for making strategic decisions. External factors are the general environment of an industry that strategic leaders most likely will not be able to influence. There are six external factors for a PESTEL analysis that influence all firms in a given industry. The PESTEL model groups these segments as: political, economic, sociocultural, technological, ecological and legal.
Review the following article:
Scanning the Environment: PESTEL Analysis
Explore the six PESTEL external factors: political, economic, sociocultural, technological, ecological, and legal.
Choose one industry (automotive, hospitality, manufacturing, high tech, etc.) and discuss the following with your peers:
Examine one of the six PESTEL factors in relation to your chosen industry. In your opinion, why do you believe this PESTEL factor is the most important to your chosen industry?
Describe one advantage and disadvantage of the PESTEL analysis for strategic planning.
If you were a manager in a global organization, how would you use the technological factor of innovation to gain a competitive advantage?
__________________
Which PESTEL factor is the most important to the automotive industry?
I believe that the most important PESTEL factor to the automotive industry is technological innovation. The automotive industry is constantly evolving, and new technologies are emerging all the time. Companies that are able to successfully adopt new technologies will be able to gain a competitive advantage. For example, Tesla has been able to gain a significant market share by pioneering the use of electric vehicles.
What is one advantage and disadvantage of the PESTEL analysis for strategic planning?
One advantage of the PESTEL analysis is that it provides a comprehensive overview of the external environment. This can help businesses to identify opportunities and threats, and to develop strategies that are aligned with the external environment.
One disadvantage of the PESTEL analysis is that it can be time-consuming and complex. It can also be difficult to accurately assess the impact of each factor on the business.
How would you use the technological factor of innovation to gain a competitive advantage as a manager in a global organization?
As a manager in a global organization, I would use the technological factor of innovation to gain a competitive advantage in the following ways:
I would invest in research and development to develop new products and services that are ahead of the competition.
I would partner with technology companies to access their expertise and resources.
I would create a culture of innovation within my organization, encouraging employees to come up with new ideas and solutions.
Why Seek Our Custom Writing Services
Every Student Wants Quality and That’s What We Deliver
Affordable Prices
Our prices strike the perfect balance between affordability and quality. We offer student-friendly rates that are competitive within the industry, without compromising on our high writing service standards.
100% Plagiarism-Free
No AI/chatgpt use. We write all our papers from scratch thus 0% similarity index. We scan every final draft before submitting it to a customer.
How it works
When you decide to place an order with Nursing.StudyBay, here is what happens:
Expert paper writers are just a few clicks away
Place an order in 3 easy steps. Takes less than 5 mins.