Strategies & Solutions: Keys to Solving Business Problems

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

• And?
• Who?
• How?
• When?

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

• False
• True

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

• opportunity
• threat
• weakness
• strength

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?

• reputational
• political
• human
• technical

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
• universally shared products
• undeniable strong points
• users' selection process

A PEST analysis consists of analyzing political, economic, __________ and __________ factors.

• social; technological
• safety; tensional
• scholarly; theological
• seasonal; tolerable

Listing all possible solutions is the first step in solving business problems.

• False
• True

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

• documenting the agreement
• monitoring and evaluating
• selecting the best alternative
• evaluating every option