Key Skills of Business Flashcards
(28 cards)
How many different components are there in PESTEL?
6
Define the components of PESTEL
Political
Economic
Social
Technology
Environmental
Legal
Political components of PESTEL include which of the following:
a. inflation
b. carbon tax
c. public policy initiatives
d. health regulations
e. only a and b
f. only c and d
F. ONLY C AND D
A and B are economic components
List the political components of PESTEL (5)
Public policy initiatives
Health regulations
Infrastructure
Labour laws
Carbon regulations
List the economic components of PESTEL (5)
Inflation
Interest rates
Carbon tax
Exchange rates
Unemployment
T/F: The following are part of the social component of PESTEL:
Population growth
Distribution
Demographic data
Health consciousness
TRUE
List the environmental components of PESTEL (2)
Sustainability
Green solutions
T/F: The following are part of the environmental component of PESTEL:
Access
Advancements
Digitization
Technical devices
FALSE - they are part of TECHNOLOGY component of PESTEL
List the legal components of PESTEL (4)
Tax law changes
Corporation law changes
Intellectual property law
Trade laws
What does SWOT analysis stand for?
Strengths
Weaknesses
Opportunities
Threats
What are the 2 internal components of SWOT?
Strengths
Weaknesses
What are the 2 external components of SWOT?
Opportunities
Threats
What are the 2 “helps” components of SWOT?
Strengths
Opportunities
What are the 2 “harms” components of SWOT?
Weaknesses
Threats
What are examples of strengths?
Productivity
Patient Rapport
Green
Digital
What are examples of weaknesses?
Lean staff
Poor adoption
Infrastructure
T/F: The following are examples of opportunity in SWOT
Generic versions
Hesitancy
Poor understanding
FALSE - examples of THREAT
T/F: The following are examples of opportunity in SWOT
Expanded scope
Accessibility
First to market
TRUE
What are the 4 components of PORTERS - competitive strategy?
Cost leadership
Differentiation
Cost focus
Differentiation focus
What 2 factors make up competitive scope in PORTERS - competitive strategy?
a. broad market and narrow market
b. lower cost and differentiation
A. broad market and narrow market
What 2 factors make up competitive advantage in PORTERS - competitive strategy?
a. broad market and narrow market
b. lower cost and differentiation
B. lower cost and differentiation
Which of the following falls under lower cost and broad market in PORTERS - competitive strategy?
Cost leadership
Differentiation
Cost focus
Differentiation focus
Cost leadership
Which of the following falls under differentiation and broad market in PORTERS - competitive strategy?
Cost leadership
Differentiation
Cost focus
Differentiation focus
Differentiation
Which of the following falls under differentiation and narrow market in PORTERS - competitive strategy?
Cost leadership
Differentiation
Cost focus
Differentiation focus
Differentiation focus
