(Answered) 1 why is it important to look at the pestle political

Engineering

1. Why is it important to look at the PESTLE (political, economic, social, technological, legal, and ecological) factors in environmental scanning? Describe each and give examples of their importance to industries and various companies relative to strategic planning.

2. Explain Porter's five forces model of industry analysis and give examples of the influences of entry barriers, supplier power, buyer power, substitute availability, and competitive rivalry on a firm.

3. Compare and contrast the foreign market entry options available to firms wanting to start doing business internationally.

4. Do you agree that all businesses will soon have to evaluate global environments? Explain why or why not.

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