Business School 101: PESTLE Analysis Quiz

What does the acronym PESTLE stand for in the context of business analysis?

• Political, Economic, Social, Technological, Environmental, Logical

• Political, Economic, Social, Technological, Environmental, Linguistic

• Political, Ethical, Social, Technological, Environmental, Legal

• Political, Economic, Social, Technological, Environmental, Legal

Which of the following is a non-market strategy used by firms to influence political factors?

• Product Development

• Lobbying

• Market Research

• Advertising

How do low real interest rates affect consumer behavior?

• They have no effect on consumer behavior.

• They encourage consumers to buy on credit.

• They increase consumer savings.

• They decrease consumer spending on credit.

What is a common effect of economic recession on consumer spending?

• No change in spending habits

• Increased spending on low-cost alternatives

• Decreased spending on essential goods

• Increased spending on luxury goods

Which demographic trend is expected by 2050 according to the video?

• Indonesia will be the most populous nation.

• China will be the most populous nation.

• India will be the most populous nation.

• The US will be the most populous nation.

What is an example of a technological innovation mentioned in the video?

• Biotechnology

• All of the above

• Lean manufacturing

• Social media

What environmental issue did BP's oil spill in the Gulf of Mexico highlight?

• Soil erosion

• Deforestation

• Water pollution

• Air pollution

What is the estimated recycling-based profit pool by the next decade?

• $35 billion

• $45 billion

• $55 billion

• $25 billion

How can legal factors impact a firm's profit potential?

• By enhancing product quality

• Through regulatory changes

• By increasing market competition

• Through technological advancements

Why is it important for managers to conduct a PESTLE analysis regularly?

• To ensure compliance with internal policies

• To monitor and respond to external changes

• To improve employee satisfaction

• To increase short-term profits