Fill a form in 3 easy steps - less than 5 mins.
Posted: July 16th, 2023
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.
You Want Quality and That’s What We Deliver
Our writing team is assembled through a rigorous selection process, where we handpick accomplished writers with specialized expertise in distinct subject areas and a proven track record in academic writing. Each writer brings a unique blend of knowledge and skills to the table, ensuring that our content is not only informative but also engaging and accessible to a general college student audience
Competitive pricing is a cornerstone of our service, where we balance affordability with exceptional quality. In offering the best writers at rates that rival other writing services, we ensure that students can access top-notch content without breaking the bank unnecessarily. Our fair and transparent pricing structure is designed to provide value for money, making us a go-to choice for students seeking high-quality writing services at an affordable price.
Academic integrity is paramount to our writing service, which is why we produce original research and writing content for every paper. Each piece of work is carefully written from scratch, ensuring that every sentence, paragraph, and page is authentic and free from plagiarism. Our rigorous quality control process involves thorough scanning of every final draft, guaranteeing that the content meets the highest standards of originality and academic integrity. With keen attention to citation and referencing, we ensure that every source is properly credited, giving you complete peace of mind. We also have the best plagiarism checkers like safeassign and turnitin thus providing similarity score for each paper.
When you decide to place an order with Dissertation Help, here is what happens: