3.7.1 Mission, corporate objectives, functional objectives and s

Which of the following is NOT an internal factor that influences a business's objectives?

• Ownership

• Shareholders

• Economic environment

• Internal environment

What is the primary goal of a business strategy?

• To increase the number of employees

• To achieve the business's objectives

• To expand the business's physical location

• To reduce the number of products

Which of the following is a strength in a SWOT analysis?

• Poor reputation

• Good reputation

• High competition

• Economic downturn

What does SWOT stand for?

• Strengths, Weaknesses, Opportunities, Threats

• Strategies, Weaknesses, Opportunities, Tactics

• Strengths, Weaknesses, Objectives, Tactics

• Strategies, Weaknesses, Objectives, Threats

Which of the following is an example of a strategic decision?

• Deciding the daily work schedule

• Planning to increase sales by 5% in one year

• Hiring a new employee

• Choosing office supplies

What is the purpose of a SWOT analysis in business strategy?

• To determine daily tasks

• To manage employee schedules

• To make strategic decisions by analyzing strengths, weaknesses, opportunities, and threats

• To decide on office locations

Which of the following is a weakness in a SWOT analysis?

• Good reputation

• Poor product quality

• High market share

• New business opportunities

What is a business strategy?

• A long-term plan of action to achieve a business's objectives

• A short-term plan to manage daily tasks

• A plan to hire new employees

• A strategy to reduce the number of products

Which of the following is an external factor that can influence a business's objectives?

• Ownership

• Shareholders

• Political environment

• Internal environment

What is the role of functional decision making in a business?

• To manage daily tasks

• To make strategic decisions in individual departments

• To hire new employees

• To choose office supplies