The PESTEL Analysis Is a Tool for Assessing the Political

question 183

Multiple Choice

The PESTEL analysis is a tool for assessing the political, economic, sociocultural, technological, environmental, and ________ contexts in which a firm operates.

• A) longitudinal
• B) legal
• C) long-term
• D) logistical

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Definitions:

Spending Variance

Spending variance is the difference between the actual amount spent and the amount budgeted or expected to be spent.

Budgeting

The process of creating a plan to spend your money, setting forth projected revenues and expenses for a future period.

Planning Budget

A financial plan that estimates the revenue, costs, and resources required over a certain period, often used for guiding business strategy and operations.

Other Expenses

Costs not directly related to production or operations, such as administrative and marketing expenses.