How is a firm's task environment different from its general environment? Provide examples of both types of environments.
What is the PESTEL model? Give one example of how each segment can impact a business.
What are the two key insights that form the basis of Michael Porter's seminal five forces model?
What is meant by industry convergence? Explain with the help of a real-world example.
How was Airbnb able to disrupt the hotel industry, dominated by huge organizations like Marriott and Hilton, which took decades to develop their success as worldwide leaders in hospitality? Explain.
The initial response is due Friday February 14th. By Sunday February 16th you need to respond to at least two other classmate's post and finalize all discussions.
How is a firm's task environment different from its general environment? Provide examples of both types of environments.
A firm’s general environment is different from the task environment, which is general information. The general environment is composed of various external forces that affect the undertakings of business and force the company to bring some major and minor transformations in its operations, management, and other such areas. These forces include environmental factors, technological advancements, government rules and regulations, economies, etc.
A firm’s task environment comprises capabilities to buy quality material at low costs for the production of multiple goods and to generate revenue from the offerings and also to compete to increase business in new markets and internationally. The example for this is the capabilities and competencies of the firm to acquire quality goods for producing and generating a higher return.
Because of Chegg guidelines, one is allowed to answer the first question only, if multiple questions are given. So, please don’t dislike the answer because of this reason. It will be highly appreciated.
How is a firm's task environment different from its general environment? Provide examples of both types...
How was Airbnb able to disrupt the hotel industry, dominated by huge organizations like Marriott and Hilton, which took decades to develop their success as worldwide leaders in hospitality? Explain.