Business Analysis Concepts

What are Porter's Five Forces?

• The five forces are: 1) Threat of new people, 2) Bargaining power of new entrants , 3) Bargaining power of buyers, 4) Threat of substitutes, 5) Industry rivalry.

• The five forces are: 1) Threat of new entrants, 2) Bargaining power of suppliers, 3) Bargaining power of buyers, 4) Threat of substitutes, 5) Industry rivalry.

• The five forces are: 1) Threat of new buyer, 2) Bargaining power of suppliers, 3) Bargaining power of entrants , 4) Threat of substitutes, 5) Industry rivalry.

• The five forces are: 1) Threat of new community, 2) Bargaining power of business, 3) Bargaining power of buyers, 4) Threat of substitutes, 5) Industry rivalry.

How does SWOT analysis help in decision making?

• SWOT analysis is only useful for large corporations, aids decision making by providing a clear framework to assess internal and external factors affecting an organization.

• SWOT analysis aids decision making by providing a clear framework to assess internal and external factors affecting an organization.

• SWOT analysis eliminates the need for market research to assess internal and external factors affecting an organization.

• SWOT analysis focuses solely on financial metrics to assess internal and external factors affecting an organization

What does PEST analysis stand for?

• Personal, Economic, Social, Technological

• Physical, Environmental, Strategic, Tactical

• Political, Economic, Social, Technological

• Political, Environmental, Social, Technical

What is the purpose of scenario planning?

• The purpose of scenario planning is to eliminate all risks associated with decision-making.

• The purpose of scenario planning is to analyze past events and predict future trends.

• The purpose of scenario planning is to create a single definitive plan for the future.

• The purpose of scenario planning is to prepare for uncertain future events by exploring different possible scenarios.

Define force field analysis.

• A technique for predicting future trends without analysis.

• Force field analysis is a method for evaluating the forces for and against a change in a given situation.

• A method for measuring the speed of change in a situation.

• A strategy for implementing changes without considering resistance.

What is a decision-making tree used for?

• To analyze historical data for patterns.

• To generate random outcomes for games.

• To aid in decision-making by mapping out options and outcomes.

• To create a visual representation of data trends.

Explain the Ansoff Matrix.

• The Ansoff Matrix categorizes growth strategies into four quadrants: Market Penetration, Product Development, Market Development, and Diversification.

• The Ansoff Matrix categorizes growth strategy is a model for employee performance evaluation

• The Ansoff Matrix categorizes growth strategy is a tool for financial forecasting

• The Ansoff Matrix categorizes growth strategy is a framework for supply chain management

What is product differentiation?

• Product differentiation is the method of eliminating competition in the market.

• Product differentiation is the process of distinguishing a product from others to make it more attractive to a specific target market.

• Product differentiation refers to the process of increasing product prices.

• Product differentiation is the process of reducing production costs.

How can Porter's Five Forces impact industry competition?

• Porter's Five Forces impact industry competition by eliminates the threat of new entrants completely.

• Porter's Five Forces impact industry competition by guarantees high profitability for all firms.

• Porter's Five Forces impact industry competition by reduces the number of competitors in the market.

• Porter's Five Forces impact industry competition by determining the level of competition and profitability through the analysis of market dynamics.

What are the strengths in a SWOT analysis?

• External factors that hinder progress.

• Weaknesses that need to be addressed.

• Internal attributes and resources that provide an advantage.

• Market trends that provide opportunities.