Business Strategy Quiz

What is one of the aims of the Business Strategy lesson?

• To learn about financial accounting

• To understand marketing strategies

• To learn about Competitive Advantage

• To study human resources management

What is an example of an economic factor in PESTLE analysis?

• A recession reducing consumer spending

• Brexit impacting supply chains

• Aging populations affecting healthcare demand

• New data protection laws

What is an example of an environmental factor in PESTLE analysis?

• Companies adopting eco-friendly practices

• The rise of AI and automation

• A recession reducing consumer spending

• New data protection laws

Which of the following is NOT a factor in the PESTEL analysis?

• Political

• Economic

• Technological

• Financial

What does the 'P' in PESTEL stand for?

• Product

• Political

• Performance

• Profit

What does the 'E' in PESTEL stand for?

• Economic

• Environmental

• Ethical

• Educational

What does the Threat of New Entrants refer to in Porter's Five Forces model?

• The power of suppliers to influence prices

• The possibility of new competitors entering the market

• The power of customers to drive prices down

• The level of competition among existing firms

Which example is associated with the Threat of Substitutes?

• New coffee shops entering a region

• Supermarkets facing pressure from consumers

• Streaming services competing with traditional cable TV

• Intense rivalry between airlines

In Porter's Five Forces model, which force evaluates the potential for customers to find different products?

• Threat of Entry

• Threat of Substitution

• Supplier Power

• Buyer Power

What is one of the tasks students must do in their assignment regarding Porter’s 5 Forces?

• Create a new business plan

• Introduce the concepts surrounding the model

• Design a marketing campaign

• Develop a financial report