WorksheetsBOH4M Unit 4
Total questions: 33
Worksheet time: 17mins
What does the acronym SWOT stands for?(EVA)
Strengths, Weaknesses, Obligations, Threats
Strengths, Weaknesses, Opportunities, Threats
Strengths, Weak points, Opportunities, Threats
Strengths, Weaknesses, Opportunities, Time
What is the purpose of performing a SWOT Analysis? (CRE)
Identifies internal and external factors that may affect the business future performance.
Access a organisations performance
Evaluates whether the business venture is a good idea.
Gives the management team a broader view on the potential opportunity
Internal factors that may limit a company's ability to achieve its goals would be known as a
Strength
Weakness
Opportunity
Threat
A SWOT analysis looks at?
The Internal Factors only
Both internal and external Factors
The external factors only
None of the above
Identify a weakness from the following
Overseas demand for a product
Falling number of customers within specific age group
Making a profit
Poor quality goods
Identify an opportunity from the options below:
New market opened up
Minimum wage so higher wages have to be paid
Negative publicity
Good financial situation
Identify a threat from the list below:
New market opened up
Competitor opening a new outlet next to your business
Poor staff training
Expansion overseas
A company has a strong brand name, this would be a(n)
Strength
Weakness
Opportunity
Threat
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
In Porter's Five Forces, the 'threat of new entrants' relates to:
Barriers to entry
Substitutes
Switching costs
Buyer power
Buyer power is high if:
Differentiation is low
Switching costs are low
They have little information
The buyer requires a high quality product for their own production
PESTLE is an analytical tool which helps to undertake:
An internal analysis
An external analysis
A competitor analysis.
A strategic analysis
Which of the following statements is true?
A strategic plan is a short term plan of action for a business
A tactical plan is a long term plan of how the strategic plan is to be achieved
An operational plan is to do with the day-to-day running of the business
None of the above
A plant manager who organizes the plant by separating engineering, accounting, manufacturing, personnel, and purchasing into departments is practicing _____ departmentalization.
a. target customer
b. product
c. functional
d. geographic
The boundaryless organization relies heavily on _____.
a. information technology
b. efficient chains of command
c. the simple structure
d. the matrix structure
26. The more that lower-level personnel provide input or are actually given the discretion to make decisions, the more _____ there is within an organization.
centralization
disempowerment
work specialization
decentralization
Multiple reporting relationships is a characteristic of which of these structure of organizations?
Function
Division
Matrix
None of the above
An advantage of flat organization structure is:
There is a narrow span of control.
Communication is quicker.
There are more opportunities for promotion.
Work responsibilities are clear.
1. A tall organizational structure would be:
Many levels in hierarchy + wide spans of control.
Few layers in hierarchy + narrow spans of control.
Few levels in hierarchy + wide span of control.
Many levels in hierarchy + narrow span of control.
The Planning Process:
1. Define your ____.
lifestyle
mission statement
business slogan
What is the 4th step of the planning process?
analyze scenarios and choose the best course of action
implement the plan
evaluate your current position
brainstorm alternate scenarios
Which is not of the benefits of planning?
flexibility
low cost
coordination
time management
____ is the process of comparing performance against industry standard or a category leader.
performance analysis
participatory planning
forecasting
benchmarking
How many steps are in the strategic planning process?
3
4
5
6
Corporate Strategy is...
Concerned with the day-to-day operational activities, where all planning become actions.
Related to the operating divisions and departments of the organisation
More about developing and sustaining a competitive advantage for the goods and services that are produced
Concerned with the selection of businesses in which the company should compete and the coordination of that portfolio of business.
The _________ answers the question “What do we want to accomplish?”, whereas ________ answers the question “Why do we exist?”
Vision statement; mission statement
Short-term objectives; long term objectives
Objectives; strategies
Vision statement; Goals
What are the key types of Corporate Strategy?
Vertical, Horizontal and Diversification
Concentric, Concentration and Divestment
Growth and Retrenchment
Turnaround, Divestment and Liquidation
In the case where an organisation acquires its supplier, this is an example of which Corporate Strategy
Turnaround Strategy
Diversification
Horizontal backward integration
Vertical integration
Control is the process of monitoring and evaluating activities to ensure that they are being accomplished as planned.
TRUE
FALSE
_________________ takes place before actual occurrences problem happen.
Feedback control
Concurrent control
Feedforward control
Finalize control
"When customer service obtained complaints on the poor services provided by the customers service officers, the manager will study the cause and drew new service delivery plan to ensure better customer service in the future".
This statement refer to ____________________.
feedforward control
feedback control
concurrent control
measuring control
Which type of control is used by employees to constantly monitor the quality of the goods or services they provide at every step of the production process and inform managers as soon as they discover problems?
feedback control
feedforward control
concurrent control
preventive control
