SM PQ1

1. This model is typically used by businesses to study and understand the external market they operate in.

• PEST MODEL

• SWOT ANALYSIS

• OKRs

• Porter's Five Forces

2. It answers the questions, "Where are you going with your business?" and "Where do you want to be?"

• Balanced Scoreboard

• Gap Planning

• Blue Ocean Strategy

• SWOT Analysis

3. It is about laying out department-level processes and guidelines, which are a minor component of the broader corporate strategy.

• Corporate Strategy

• Managerial Perception

• Project Planning

• Functional Strategy

4. This comprehensive analysis takes into account internal and external factors in addition to current and future potential.

• OKRS

• PEST

• SWOT Analysis

• VRIO Framework

5. It is an Excellent tool that companies can use to set challenging goals and push themselves further than might have been thought possible.

• VRIO Framework

• OKRS

• PEST MODEL

• Blue Ocean Strategy

6. This strategy is limited to smaller, less established companies may struggle to use it and that it only focuses on internal factors, excluding external variables.

• PEST Model

• Porter's Five Forces

• Blue Ocean Strategy

• VRIO Framework

7. It allows a company to position itself in the minds of consumers through targeted marketing and branding efforts.

• Business Plan Development

• Marketing and Branding

• Project Planning

• Human Resources

8. This limitation can be overcome by training managers to make strategic plans.

• Lack of Knowledge

• Interdependence of Units

• Financial Considerations

• Managerial Perceptions

9. It helps businesses attract investors and other types of funding.

• Business Plan Developmet

• Marketing and Branding

• Budget Management

• Human Resources

10. A concise explanation of the organization's reason for existence.

• Vision Statement

• Core Values

• Philosophy

• Mission Statement