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WorksheetsStrategic Management - Midterm Exam
Total questions: 18
Worksheet time: 12mins
This tool analysis examines both internal and external factors – that is, what's going on inside and outside your organization.
a. External Analysis
B. Internal analysis
c. Swot analysis
d. Competitive analysis
What factor is this ( trade restrictions ,foreign trade policy ,tax policy )?
A .political Factor
b.social factor
c. Swot analysis
d. Competitive analysis
What factor is this (consumer protection laws health and safety laws)?
A .political Factor
B . social factor
C. Legal factor
D. all answer are correct
What factor is this ( Recyling standars attitudes towards green prdoucts support for renewable energy )?
A. Economic factor
B. Environmental factor
C. Both A and B
D. Technology Factor
This is a framework or tool used to analyses and monitor the macro-environmental factors that may have a profound impact on an organization’s performance. This tool is especially useful when starting a new business or entering a foreign market.
A. competitive analysis
B. STEEP analysis
C. Swot analysis
D. no correct answer
These factors pertain to innovations in technology that may affect the operations of the industry and the market favorably or unfavorably. This refers to technology incentives, the level of innovation, automation, research and development (R&D) activity,
A. Economic factor
B. Technology
C. Both A and B
D. Technology Factor
An assessment of your competitors' products, services and sales tactics, evaluating their strengths and weaknesses relative to your own..
a. External Analysis
b. Internal analysis
c. Swot analysis
D. Competitive analysis
_______ & THREATS ARE EXTERNAL FACTORS OVER WHICH THE BUSINESS HAS NO CONTROL.
OPPORTUNITIES
WEAKNESSES
What do strategic leaders do?
Avoid change
Select actions to help the firm achieve its vision and mission
Only focus on short-term profits
Ignore the competitive landscape
Strategic planning is....
Long term planning
Short term planning
General planning
Seasonal planning
What does the "S" stand for in STEEP?
Support
Short term
Socio-cultural
Subsidiary
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
What is a competitive advantage?
A) A firm’s unique ability to do something better than competitors
B) The creation of long-term objectives
C) The establishment of a vision and mission statement
D) The process of evaluating internal strengths and weaknesses
Who are strategists in the context of strategic management?
A) Marketing managers
B) Individuals responsible for the success or failure of an organization
C) Operational staff
D) Financial analysts
All of the following are factors affecting multiple industries except one. Which one is not a factor?
economic forces
technological forces
political-legal forces
industry forces
socio-cultural forces
A product that appears to be different but can satisfy the same need as another product is called?
domestic product
substitute product
new product
Suppliers can affect an industry through their ability to raise prices or reduce the prices.
true
false
