Fun Quizz for Management

POLC refers to

• Strategic planning process

• Core management functions

• Organizational behaviors

• Environment analysis framework

Answer explanation

POLC - Planning, organizing, leading, controlling

To analyze an industry, which of these frameworks could be used?

• SWOT framework

• Five forces analytical framework

• PESTLE framework

A ________ is an example of a first-line manager.

• division manager

• branch manager

• regional manager

• shift manager

Which of the following is NOT one of the five forces of competitive pressures?

• A. the power and influence of social/demographic trends

• B. the bargaining power of suppliers and seller-supplier collaboration

• C. the threat of new entrants into the market

• D. the attempts of companies in other industries to win customers over to their own substitute products

• E. the market maneuvering and jockeying for buyer patronage that goes on among rival sellers in the industry

Rivalry among competing sellers decreases ...

• A. when buyer demand is growing rapidly.

• B. as it becomes less costly for buyers to switch brands.

• C. as the products of rival sellers become commoditized.

• D. when there is excess production relative to demand.

• E. as the number of competitors increases.