All companies operate in a broad _______-environment that is made up of six components, including political factors and technical factors.
macro
What acronym serves as a reminder of the components of a company's
...
All companies operate in a broad _______-environment that is made up of six components, including political factors and technical factors.
macro
What acronym serves as a reminder of the components of a company's macro-environment?
PESTEL
Strategically relevant factors have a bearing on the ______ direction of any given company.
long-term
Which of the following are strategically relevant macro-environment factors affecting cigarette producers?
1. cultural stigma
2. cigarette taxes
3. antismoking ordinances
Which of the following is an example of a sociocultural force that affects companies?
the trend towards healthier lifestyles
Which of the following components form part of a company's macro-environment?
1. sociocultural forces
2. legal/regulatory conditions
3. political factors
Which of the following concepts are analytic tools for assessing a company's industry and competitive environment?
1. strategic group mapping
2. driving forces
3. the value net
The "L" in PESTEL analysis stands for ____
legal/regulatory conditions
Which fo the following are outlines in the five forces model of competition?
1. customer bargaining power
2. competition from rival sellers
3. supplier bargaining power
True or false: Strategically relevant factors typically exist only within a company's industry boundaries
false
Which of the following are factors that affect the intensity of rivalry among competing sellers within an industry?
1. substitutes
2. suppliers
3. new entrants
When devising long-term strategies, companies in the restaurant industries must pay special attention to changes in ____.
1. lifestyles
2. eating habits
3. leisure time preferences
Minimum wage legislation tends to affect _____ industries more than others.
labor-intensive
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