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WorksheetsStrategic Management I
Total questions: 32
Worksheet time: 32mins
An external analysis is the process of scanning and evaluating an organization's various external environmental sectors to determine positive and negative trends that could impact on organizational performance.
True
False
Threats are positive external environmental trends or changes that will help the organization improve its performance.
True
False
The goal of most organisation is to choose a strategy that
Maximizes the value of the firm for its shareholders
Emphasizes high sales
Minimizes costs
Controls both costs and expenses
A ski resort can't sell passes because there is no snow. What external factor is this?
Political
Economic
Environment
Social
Greggs in Renfrew wants to expand its store, but it has had its planning permission refused. What external factor is this?
Political
Social
Competitive
Unemployment is at an all time high. What external factor is this?
Political
Economic
Competitive
Technological
External factors are out of a business' control.
True
False
Internal and external factors can have both a positive and negative affect on a business.
True
False
Who has the power over political factors?
Businesses
The Government
Boris Johnson
Nicola Sturgeon
Social factors are about...
Inflation rates
Trends
What can an enterprise do to try and manage external factors?
Have a contingency plan
Increase their price
Go into liquidation
Report the external factors to the police
The UK government often makes changes that have a _____________.
minuscule impact on enterprises.
positive impact on enterprises.
negative impact on enterprises.
positive or negative impact on enterprises.
What does the S in SWOT analysis stand for?
Sales
Strengths
Service
Sector
What does the W in SWOT analysis stand for?
Weaknesses
Wages
Weighted
Withdrawal
What does the O in SWOT analysis stand for?
Optimistic
Optional
Opportunities
Openness
What does the T in SWOT analysis stand for?
Tastes
Taxation
Technological
Threats
If the economy is struggling, the UK may enter a ____.
economy.
era of prosperity.
recession.
target market.
Which of the following is a raw material for Coca Cola?
Insurance fees payable
Cost of equipment
Sugar
Interest rates
Which one of the following is an internal factor?
Effective planning and financing
Consumer confidence
Changes in taxation
Interest rates
The population in the UK is ageing. This is a ____ factor.
social
economic
political
legal
Developments in technology can mean that a business replaces ____
directors with shareholders
sustainability with ethics
strategy with objectives
labour with machinery.
A business has a poor reputation among customers , this would be considered to be a(n)
Strength
Weakness
Opportunity
Threat
Changes in demographics results in shifting demand away from products, this is classified as a
Strength
Weakness
Opportunity
Threat
A company has a strong brand name, this would be a(n)
Strength
Weakness
Opportunity
Threat
A company that has been established and successful for 10 years doesn't need to conduct a SWOT
True
False
Trade restrictions have just been lifted, allowing your company to expand trade globally,
Political Factor
Economic Factor
Social Factor
Technological Factor
A shift in consumer taste, away from the firm's product is considered a
Political Factor
Economic Factor
Social Factor
Technological Factor
Installation of new computer software for your company is an example of a
Political Factor
Economical Factor
Social Factor
Technological Factor
The internal business environment consists of...
factors that directly impact the organisation
factors that influence the operations of the business
factors that influence the wider environment in which the business operates
An example of an internal environmental factor is...
Legal issues eg consumer law
Suppliers
Employees
Competitors
Organisational culture is....
The structure of the organisation - break down of roles and responsibilities
The shared values, beliefs, expectations and attitudes of the people within the organisation (management and staff)
