Project Management Study

Industry and market analysis, competitor analysis, and social analysis are examples of which step in the strategic planning process?

• Analysis of mission, vision, and goals

• Analysis of management implementation

• Analysis of external opportunities and threats

• Analysis of internal strengths and weaknesses

Skilled management, positive cash flow, and well-known brands are examples of which component of the SWOT analysis?

• Threats

• Strengths

• Weaknesses

• Opportunities

What denotes skills or expertise in an activity that constitutes the roots of competitiveness in an organization?

• Strategic values

• Core capabilities

• Products and services

• Opportunities and threats

According to Michael Porter's competitive environment model, how can suppliers influence strategic planning?

• Suppliers can reduce the threat from substitute products.

• Suppliers can reduce the numbers of new entrants in the market.

• Suppliers can reduce manufacturing time and increase product quality.

• Supplier can reduce technological, demographic, and legal threats in the environment.

A company offers unique products in its industry to create a competitive advantage.

• Valorization

• Differentiation

• Customization

• Standardization

Happy Inc. is a leading provider of family entertainment and BCD is a broadcasting company with news, cable, and entertainment networks. Happy Inc. recently acquired BCD in hopes of boosting its primary business of family entertainment.

Which type of corporate strategy is represented by Happy Inc.'s purchase of their distribution network?

• Vertical integration

• Strategic alliances

• Networking

• Horizontal benchmarking

A local business has provided services to its customers for 40 years. The business's mission is "To give our customers the best service in town." The owner of the business has had a long-standing dream to franchise the business and become the best provider of its service in the United States.

What describes the owner's dream?

• Strategic vision

• Strategic mission

• Strategic planning

• Strategic management

A value chain is the sequence of activities that begins with raw materials.

• Supply and demand

  
  

• Operations and logistics

  
  

• Outsourcing or insourcing

  
  

• Delivery of products or services

  
  

What is the first step of organizational strategic planning?

• Developing operational goals

  
  

• Developing internal strengths

  
  

• Developing a strategic mission

  
  

• Developing external opportunities

  
  

What happens when an effective value chain is created?

• Profit margins are increased.

  
  

• A mission statement is developed.

  
  

• Customized products are standardized.

  
  

• Total quality management is not required.