What are the two main tools mentioned for identifying strategic orientations?
Summary of Strategic Analysis in a Business

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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
SWOT analysis and Porter's Five Forces
PEST analysis and BCG Matrix
Ansoff Matrix and Value Chain Analysis
Balanced Scorecard and VRIO Framework
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does SWOT analysis help in strategic planning?
By evaluating financial performance
By assessing customer satisfaction
By analyzing internal strengths and weaknesses
By identifying market trends
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a component of Porter's Five Forces?
Threat of new entrants
Internal strengths
Buyer power
Supplier power
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the significance of understanding buyer power in a market?
To identify potential new entrants
To evaluate the company's internal strengths
To assess the influence buyers have on pricing
To determine the cost of production
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it important to consider substitute products in strategic planning?
To understand potential threats to market share
To enhance internal strengths
To reduce production costs
To increase supplier power
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