Business Startegy Quiz 1

Which of the following is not a variable of societal environment

• Economic forces

• Sociocultural Forces

• Special Interest Groups

• Political- Legal forces

The internal environment of a SWOT analysis outline the

• Weakness and Threats

• Opportunities and Threats

• Strengths and weakness

• Strengths and Opportunities

occurs at the business unit or product level,and it emphasizes improvement of the competitive position of a corporation’s products or services in the specific industry or market segment served by that business unit.

• Division Level Strategy

• Corporate strategy

• Functional strategy

• Department strategy

Answer explanation

Division Level strategy is another name for Business Level Strategy

What are the 3 heirachy of strategies

• Corporate Strategy, Division Level,Functional Strategy

• Corporate Strategy, Resource Level,Growth Strategy

• Corporate Strategy,Business Strategy,Division Level

• Corporate Startegy, Business Strategy, Department level

The three strategy levels that managers think in are

• corporate , universal and business

• corporate , business and strategic

• functional , strategic and universal

• business , corporate and functional

The process of creating or rewriting an organization's mission, identifying and evaluating the long-term goals and strategies to reach those goals, and determining the required resources is called

• Strategic management

• organizational planning

• strategic planning

• management organizing

What are the components of a business model?

• Resource base, activity system, and product offering

• Customization, Consistency of Performance, Marketing Mix

• Juxtapositioning, Parallel Processing, Business Strategy

• Outside-in, Customer-Oriented, Affordable Pricing

The integrated approach to strategic controls include the following except

• Strategy Evaluation

• Strategy Formulation

• Strategy Implementation

• Strategic Control

The organization's mission statement

• a formal summary of the aims and values of a company

• a phrase that matches the company's logo

• a catchphrase used by an organization to advertise its service or product

• a symbol of company uniqueness

SWOT analysis is used

• by business organizations to identify key strengths and weaknesses with reference to its own service or product

• by business organizations to radically change their internal processes

• by business organizations that want to identify key strengths and weaknesses as well as opportunities and threats with reference to the market(s) they operate in

• to identify competitive advantage of the company