Midterm Exam in Strategic Management

What is the primary focus of internal environment analysis?

• Evaluating external market trends

• Assessing internal factors affecting an organization's strategic goals

• Analyzing competitor strategies

• Predicting economic conditions

Which of the following is a key purpose of internal environment analysis?

• To identify external threats

• To determine market demand

• To identify an organization's strengths and weaknesses

• To forecast future opportunities

What strategic management framework emphasizes the role of internal resources and capabilities as the primary sources of competitive advantage?

• SWOT Analysis

• PESTLE Analysis

• Resource-Based View (RBV)

• VRIO Framework

Which of the following is an example of a tangible resource?

• Brand reputation

• Intellectual property

• Real estate and physical assets

• Organizational culture

Which of the following is an example of an intangible resource?

• Financial capital

• Technology and infrastructure

• Brand reputation

• Work force attributes

What does the VRIO framework evaluate?

• External threats and opportunities

• Internal strengths and weaknesses

• The value, rarity, imitability, and organization of resources and capabilities

• Market trends and competitive forces

What is the first component of the VRIO framework?

• Rarity

• Imitability

• Value

• Organization

What are unique capabilities central to an organization's competitive advantage?

• Tangible resources

• Intangible resources

• Core competencies

• Organizational culture

Which of the following is a characteristic of core competencies?

• Easy to imitate

• Narrow applicability

• Unique and valuable

• Focus on weaknesses

What strategic planning tool identifies internal strengths and weaknesses and external opportunities and threats?

• VRIO Framework

• PESTLE Analysis

• SWOT Analysis

• RBV Framework