SMC2.1

What is the process that begins with a strategic analysis?

• Intuition-based decision making

• Opinion-based decision making

• Systematic approach to environmental assessment

• Instinct-based decision making

What are the two important situational considerations in strategic analysis?

• Financial statements and balance sheets

• Industry and competitive conditions

• Employee satisfaction and retention

• Market demand and supply

What are the limitations of strategic analysis?

• It can be time-consuming hurting overall organisational functioning

• It only focuses on external factors and ignores internal factors

• It provides clear and straightforward options for decision making

• It gives a lot of innovative options but doesn't tell which one to pick

What does strategy evolve from?

• Opinions and judgments

• External pressures and constraints

• Intuition and instincts

• Experience and constant review

What does strategy formulation involve?

• Matching internal strengths with external threats

• Matching internal weaknesses with external opportunities

• Matching internal strengths with external opportunities

• Matching internal weaknesses with external threats

What does the business environment refer to?

• All factors affecting personal decisions

• All factors affecting government decisions

• All internal factors affecting business decisions

• All external factors affecting business decisions

What does the business environment help to determine?

• Consumer preferences

• Opportunities and threats

• New laws and regulations

• Competitor's strategies

What does the macro environment consist of?

• Immediate periphery of an organization

• Socio-cultural and legal factors

• Suppliers, consumers, and competitors

• Economic, technological, and political factors

What is the microenvironment related to?

• Immediate periphery of an organization

• Socio-cultural factors

• Suppliers and consumers

• Economic factors

What are the ways in which the firm can raise its finance related to?

• Suppliers of the firm

• Existing customer base

• Employees of the firm

• Immediate periphery of an organization