Strategic Management - Internal Assessment

What is the primary focus of the Resource Based View (RBV) in strategic management?

• Internal resources

• External factors

• Competitor analysis

• Market trends

What is the purpose of an Internal Factor Evaluation (IFE) Matrix?

• To analyze external market conditions

• To evaluate internal strengths and weaknesses

• To assess competitor strategies

• To forecast future market trends

Which element of organizational culture involves shared assumptions that guide employee behavior?

• Values

• Beliefs

• Rites

• Symbols

In the context of management functions, which function is primarily concerned with setting objectives?

• Organizing

• Planning

• Motivating

• Controlling

What is the main focus of the marketing function in an organization?

• Customer needs and wants

• Production efficiency

• Employee satisfaction

• Financial analysis

Which of the following is a key function of finance/accounting?

• Investment decision

• Customer analysis

• Product planning

• Marketing research

What does the term 'myths' refer to in the context of organizational culture?

• Shared stories about the organization

• Visual representations of culture

• Formal events

• Daily routines

Which of the following best describes the 'Controlling' function in management?

• Setting objectives

• Monitoring performance

• Organizing resources

• Recruiting staff