BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Global strategies should be base only on demand conditions
|
|
|
Firms should pay less attention to global consumers
|
|
|
The national home base of a firm must be the biggest market
|
|
|
The national home base of a firm plays a key role
|
Detailed explanation-1: -Porter’s Diamond Model suggests that the national home base of an organization plays an important role in the creation of advantages on a global scale.
Detailed explanation-2: -In business analysis, a PESTEL analysis is an abbreviation for a tool used by marketers for identifying the macro-environmental forces facing an organization.
Detailed explanation-3: -A PEST analysis covers four elements: political, economic, social and technological factors.
Detailed explanation-4: -A PESTLE analysis provides contextual information about the business direction, its brand positioning, growth targets, and risks (such as another pandemic) to productivity. It can help determine the validity of existing products and services and define new product development.
Detailed explanation-5: -Definition: PEST Analysis is a measurement tool which is used to assess markets for a particular product or a business at a given time frame. PEST stands for Political, Economic, Social, and Technological factors. Once these factors are analysed organisations can take better business decisions.