Terms To Consider Flashcards
What does PESTEL stand for?
Political, Economic, Social, Technological, Environmental, Legal
True or False: SWOT analysis is used to identify Strengths, Weaknesses, Opportunities, and Threats.
True
Fill in the blank: The ___ component of PESTEL refers to government policies and regulations.
Political
What is the primary purpose of a SWOT analysis?
To evaluate an organization’s internal and external environment.
Which of the following is NOT a component of PESTEL? A) Technological B) Environmental C) Financial
C) Financial
What does the ‘S’ in SWOT analysis represent?
Strengths
True or False: Opportunities in SWOT analysis refer to external factors that the organization can exploit.
True
What type of analysis involves examining the external environment of an organization?
PESTEL analysis
Fill in the blank: The ___ component of SWOT refers to internal limitations.
Weaknesses
What is a common method for gathering data for a PESTEL analysis?
Market research
Which component of PESTEL examines cultural trends?
Social
True or False: SWOT analysis is only applicable to large organizations.
False
What does the ‘T’ in PESTEL stand for?
Technological
Which of the following best describes a ‘Threat’ in SWOT analysis? A) A competitor’s new product B) A budget shortfall C) Employee turnover
A) A competitor’s new product
What is the focus of the ‘E’ in PESTEL?
Environmental factors affecting the market.
Fill in the blank: The ___ component of SWOT looks at external possibilities for growth.
Opportunities
What is the first step in conducting a SWOT analysis?
Identify the organization’s strengths.
True or False: PESTEL analysis can help in strategic planning.
True
What is the significance of the ‘Legal’ aspect in PESTEL?
It addresses laws and regulations affecting the market.
What type of analysis would you use to assess market trends and customer behavior?
PESTEL analysis
What does the acronym SWOT stand for?
Strengths, Weaknesses, Opportunities, Threats
Fill in the blank: The ___ analysis helps organizations identify their competitive advantages.
SWOT
Which PESTEL factor would include trends in renewable energy?
Environmental
True or False: Identifying weaknesses is not necessary in a SWOT analysis.
False
What is one advantage of using PESTEL analysis?
It provides a comprehensive view of external factors.
What does the ‘O’ in SWOT represent?
Opportunities
