BUSM7311: Strategic Management Quiz (LU1-4)

What is the concept called that an organisation analyses in terms of the variables out of their control?

• Internal Environmental Analysis

• Strategic Direction

• External Environmental Analysis

• Organisational Direction

What is the following a statement of: "To help people find better ways to do great work"?

• Vision

• Mission

• Values

• Intent

What is the primary goal of the Prescriptive Approach in strategic management?

• Flexibility & adaptability

• Experimentation & learning

• Continuous refinement

• Planning & control

Which method focuses on analysing the functional areas of an organisation?

• SWOT Analysis

• Functional Approach

• Resource-based View

• Value Chain Analysis

What does RBV stand for in the context of strategic management?

• Resourceful Business Venture

• Realistic Business Vision

• Rapid Business Valuation

• Resource-based View

What is the main purpose of External Environmental Analysis in strategic management?

• Identifying & evaluating trends/events

• Assessing functional activities

• Internal audit

• Determining SWOT factors

What did a manufacturer in Japan shift focus on due to demographic changes?

• Why do you ask these questions?

• A dummy manufacturer who shifted from babies to adults.

• A nappy manufacturer who shifted from babies to adults.

• A clothes manufacturer who shifted from babies to adults.

What is the name of the model used for industry analysis, specifically in terms of competition?

• PESTE Analysis

• Porter's Five Forces

• SWOT Analysis

• Value Chain Analysis

What is the purpose of referencing in academic writing?

• Plagiarising content

• Giving credit to original authors

• Stealing ideas

• Avoiding citations

What is a good idea when submitting assignments?

• Submit early, then proofread

• Submit without proofreading

• Submit without preparing

• Submit late, then proofread