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- 1. Multiple Choice
Which one of the following statement is correct?
SWOT analysis is a technique used to take important business decisions
SWOT analysis helps managers decide 'where the business is now'
SWOT analysis sets business objectives for the future
SWOT analysis considers only the external environment of business
- 2. Multiple Choice
Which one of the following statements is correct?
PEST analysis is an internal audit of a business's current strengths and weaknesses
PEST analysis is sufficient to allow managers to make important strategic decisions
PEST analysis outlines some important external influences on a business
PEST analysis assesses the performance of each of a business's products
- 3. Multiple Choice
One of the uses of the Boston Matrix is:
to indicate strategic decisions that could be taken with the business product portfolio
to indicate which products are profitable and which are not
to increase the motivation of both managers and workers
to identify the level f competitive rivalry that exist in each of the markets the firms operates in
- 4. Multiple Choice
Porter's Five Forces analysis aims to help managers:
identify the market shares and market growth in each of the markets a business operates in
analyse the performance and current market position of existing products
analyse, for each business unit or division, the level of competitive rivalry
choose which strategies should be adopted to improve the power of a business
- 5. Multiple Choice
According to Porter's Five Forces analysis, competitive rivalry depends on:
supplier power, firm's market power, barriers to entry and buyer power
supplier power, buyer power, barriers to entry and threat of substitutes
threat of substitutes, threats from suppliers, buyer power, barriers to competition
firm's market power, consumer power, supplier power, threat of substitutes
- 6. Multiple Choice
A statement of the business's core purpose and focus, phrased in a way to motivate employees and to stimulate interest by outside group is known as___
Vision statement
Mission statement
Business analysis
Business Strategic
- 7. Multiple Choice
According to Hamel and Prahalad, a core competence will :
offer a business a competitive advantage if it is easy for the firms to copy
increase the firm's competitive advantage if it can develop core products from it
increase competitions as the business cannot differentiate itself form rivals
Only exist if it can be used to develop a single differentiated prodcut
- 8. Multiple Choice
Which one is the uses of Boston Matrix analysis?
It assumes that high market shares are always more profitable than low market shares
Encourages managers to take decisions about developing new products, for example, to replace a 'dog'
It cannot forecast what might happen with each product - other information might be needed, such as market research
- 9. Multiple Choice
Which ONE is the benefit of SWOT analysis?
It is often over simplified
Inexpensive, it usually undertaken by the business managers
It is often subjective
Different weights might be applied to the various issues identified by different managers
- 10. Multiple Choice
PEST analysis give benefit such as___
Provide an understanding of wider business environment
Only considers the external environment
A list of points needs further critical analysis
May need to be updated regularly given the pace of external environment
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