Business Strategy and SWOT Analysis Quiz

What are the two sides of business strategy?

• Development and Deployment

• Analysis and Design

• Planning and Execution

• Formulation and Implementation

What does the SMART model stand for in setting business objectives?

• Specific, Measurable, Achievable, Relevant, Time-bound

• Simple, Manageable, Accurate, Realistic, Timely

• Systematic, Meaningful, Adaptable, Resourceful, Timed

• Strategic, Motivational, Attainable, Reliable, Tangible

What is the focus of corporate level strategy?

• Overall financial performance

• Functional operations

• Divisional management

• Product development

What is the purpose of a SWOT analysis?

• To design a new product

• To establish a budget

• To develop a strategic plan

• To create a marketing plan

Which of the following is NOT a component of SWOT analysis?

• Threats

• Strengths

• Opportunities

• Tactics

What is a strength in a SWOT analysis?

• A positive feature of a business

• A future threat

• A potential market opportunity

• A competitor's weakness

What is a threat in a SWOT analysis?

• A competitor's strength

• A potential market opportunity

• An external condition that could negatively impact the business

• An internal weakness

What is the main focus of Porter's Five Forces model?

• Financial performance

• Product development

• External market influences

• Internal business processes

Which of the following is a barrier to entry according to Porter's Five Forces?

• High customer loyalty

• Strong buyer power

• Low supplier power

• High capital requirements

What does high supplier power result in?

• Decreased product quality

• Lower profit margins for the business

• Increased competition

• Higher profit margins for the business