Managers assess the macro level,the political,social,technological,environmental,and legal changes in their environment.This analysis is commonly referred to as a ________ analysis

Question

Quizplus · Accepted Answer

PESTEL analysis is a tool used by managers to assess the macro-environmental factors that can impact their organization. PESTEL stands for Political, Economic, Social, Technological, Environmental, and Legal factors. It helps managers to identify potential opportunities and threats in the external environment and develop strategies to address them. Option A is incorrect because competitive analysis focuses on analyzing the competitive environment of an organization. Option B refers to Porter's Five Forces analysis, which is a framework used to analyze the competitive environment of an industry. Option C is a vague term and does not refer to any specific analysis tool. Option E refers to an analysis of the ecological factors affecting an organization, which is only one aspect of the broader PESTEL analysis.

Managers Assess the Macro Level,the Political,social,technological,environmental,and Legal Changes in Their