PESTEL
Adidas' swot analysis states that an opportunity for the company is that the athletic industry is growing, which can be contributed to "Increasing number of sports enthusiasts and participants, [along with] growing health and fitness consciousness among people"
What are Social Factors?
Groups or entities that have a legitimate interest in the success or failure of a business are called
Who are Stakeholders?
Planning for, obtaining, and managing a company's funds are activities associated with what functional area of a business?
What is Finance?
Which term refers to the money you get to keep from your business activities once your expenses are paid?
What is Profit?
Home Depot includes product information signs in both English and Spanish in its stores. It is responding to which environmental factor?
What are Social Factors?
Best Buy initiated a program called Greener. The purpose is to reduce energy cost recyclable and disposable waste. They also collect electronic “junk” to reduce waste of small and large electronics.
What is an Environmental Factor?
Common stakeholders for businesses include
Customers
Employees
Owners
Suppliers
Landlords
Bankers
Management involves planning for, organizing, leading, and _______________ a company’s resources, so that it can achieve its goals.
What is Controlling?
The forces external to a business that the company has little control over is also known as
What is the Macro-environment?
Companies much manage the balance the conflicting interests of various ________.
What are Stakeholders?
Adidas' swot analysis states "changing lifestyles due to rising income levels, rising internet penetration, user-friendly interface of web portals, enhanced discounts and offers, changing consumer patterns and purchasing power are expected to be the major growth drivers for the market in the coming years"
What are Economic Factors?
These owners have a percentage of equity in the firm
Who are Shareholders
Which functional area at McDonald's would be most involved in pricing new menu items?
What is Marketing?
This function measures, summarizes, and communicates financial and managerial information and advises other managers on financial matters.
What is Accounting?
Changes in government pollution regulations are part of a company's environmental macro-environment. These changes could also be included in which other environmental factor?
What is Political?
Tesla products always come with "state-of-the-art" technology, complete with all the "bells and whistles"
What is a Technological Factor?
The primary person who designs and oversees the transformation of resources into goods or services is called the _______ Manager.
What is Operations?
Operations includes companies converting resources into intangible products or these
What are Services?
Veronica is studying environmental engineering because she is interested in renewable energy. This major has become more popular among college students, and consumers are also looking for environmentally friendly products. This trend is due to which type of external force?
What is Sociocultural?
Mario is in charge of his department's planning and organizing. He also allocates resources for his department. Which function does he fill for his department?
What is Management?
Coca Cola distributes to various countries, they have updated their products by creating new favors to accommodate different countries tastes, cultures, and desires
What are Economical and/or Social Factors?
What group is commonly mistaken to be part of a company's stakeholders
True or False: Marketing only involves pricing, sales, and promotions.
False. Marketing also includes but not limited to: market research, product design, customer management and other areas.
This individual risks time and money to start and manage a business
Who is an Entrepreneur?
This accounting field deal with preparing information for internal use, such as the cost of materials used in production
What is Managerial Accounting?