Lesson 3 Flashcards
1
Q
Process of examining the external environment in which a business operates.
A
External Analysis
2
Q
2 Types of external analysis
A
- Macro environmental Analysis
- Industry Analysis
3
Q
examining the external environment on a large scale including factors like Economic Factors, Social/ Socio- cultural forces, political, governmental, legal, technological competitive.
A
Macro-environmental Analysis
4
Q
Focusing on the external environment within a specific industry including factors such as : competitors, suppliers, customers, threat of new entrants, threat of substitutes
A
Industry Analysis
5
Q
Tools used for Macro-environmental analysis
A
-PEST Analysis
- PESTLE analysis
6
Q
Tools used for industry analysis
A
- Competitive Profile Matrix (CPM)
- External Forces Evaluation (EFE from SWOT)
- Porter’s five forces
7
Q
A
