Strategic Management Quiz

What does the acronym PESTEL stand for in the context of the general environment?

• Political, Economic, Social, Technological, Environmental, Logistics

• Political, Economic, Social, Technological, Environmental, Labor

• Political, Economic, Social, Technological, Educational, Legal

• Political, Economic, Social, Technological, Environmental, Legal

What is the primary focus of the industry environment?

• Factors that directly affect the firm and its competitive responses

• Government regulations

• Factors affecting all organizations

• Global economic trends

Which analysis tool is used to evaluate external environmental factors?

• PESTEL Analysis

• SWOT Analysis

• Balanced Scorecard

• Porter's Five Forces

What does the 'Bargaining Power of Buyers' refer to?

• The threat of new entrants in the market

• The ability of suppliers to influence prices

• The competition among firms in the industry

• The power customers have to affect pricing and quality

Which of the following is an example of a socio-cultural factor?

• Economic inflation

• Consumer attitudes towards health

• Technological advancements

• Government regulations

What is a key characteristic of the Digital Economy?

• Reliance on physical transactions

• Use of digital computing technologies for business operations

• Focus on traditional marketing strategies

• Emphasis on manual data processing

Which of the following is a component of Porter's Five Forces model?

• Market share analysis

• Brand loyalty assessment

• Bargaining power of suppliers

• Customer satisfaction metrics

What does SWOT stand for in strategic analysis?

• Strengths, Weaknesses, Opportunities, Threats

• Systems, Weaknesses, Opportunities, Threats

• Strategies, Weaknesses, Objectives, Tactics

• Strengths, Weaknesses, Options, Trends

Which factor is NOT considered a technological factor?

• Government regulations

• New products and services of competitors

• Changes in mobile technology

• Rate of technology transfer

What is a potential threat to an industry according to Porter's model?

• High customer loyalty

• Low barriers to entry

• Strong supplier power

• High product differentiation