Strategy Quiz IB 3125

The vision of a company is similars to it's ___

• dreams

• mission

• key performance areas

• gaps in performance

The statement: "To produce organic, healthy milk products with skilled staff," is a typical___

• vision

• dream

• mission

• factor analysis

A SWOT analysis is an acronym for strengths, weaknesses, opportunities and ___

• targets

• threats

• tensions

• times

The Porter strategic analysis attempts to determine the extend of rivalry in the industry.

• True

• False

An Ishikawa diagram can also be called a ___ diagram

• effective

• action

• layout

• cause-and-effect

A PESTEL analysis is ___

• an analysis of financial statements

• a cost and expense analysis

• required by law in Florida

• an external scan or audit of the business environment

A PESTEL analysis is used to analyze __

• people at work

• external environment

• social culture of the company

• threats (internal)

What does both E's in PESTEL stands for?

• Economics and Earnings

• Economic and Equality

• Economic and Environment

• Environment and Ethics

Porter identified "Threat of Substitution" as the ability of a competitor to do what you do.

• True

• False

What else can the Ishikawa diagram be used for?

• analyzing caused of failures

• determining all variables influencing an outcome

• brainstorming possible solutions or effects

• All of the above