Unit 6 Review_Busi.Mgmt_KM

To break down a problem, you should ask yourself which of the following over and over again?

• Who?

• And?

• How?

• When?

When performing a SWOT analysis, opportunities and threats are considered as internal factors.

• True

• False

Weak competitors would be considered a ____ in a SWOT analysis.

• Strength

• Weakness

• Opportunity

• Threat

Suppose a customer has a bad experience at a restaurant and tells her friends and family about it. What type of risk would this affect?

• Technical

• Human

• Political

• Reputational

Buyer power increases when there are fewer buyers.

• True

• False

Pharmaceutical companies spend millions of dollars and many years developing new medicines. Therefore, the threat of entry is ____ in this industry.

• Low

• High

• Unstable

• Unimportant

USP analysis requires determining a company’s____.

• Unique selling proposition

• Users’ selection process

• Undeniable strong points

• Universally shared products

Which step in solving business problems helps employees look back and remember all of the details decided upon?

• Evaluating every option

• Selecting the best alternative

• Documenting the agreement

• Monitoring and evaluating

Which factor determining competition causes competition to be lower if companies have a varying level of product quality?

• Technology

• Pricing

• Advertising

• Type of industry

Which factor determining competition is typically considered Walmart®’s competitive advantage?

• Technology

• Pricing

• Advertising

• Type of industry