Business Strategy Quiz # 5

Instructions
Quiz: Business Strategy Quiz # 5
Total Questions: 30 MCQs
Time: 30 Minutes

Note

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  • Results along with correct answers will be shown at the end of the test.
Business Strategy Quiz # 5
Question 1 of 30
00:00
  • What two factors are used in the GE Matrix for strategic analysis?

     

  • How can a firm maintain its competitive advantage?

     

  • Why is consistency considered an competitive advantage?

     

  • What is the main goal in setting customer related priorities?

     

  • Which of the following is a reason for the failure of a strategic plan?

     

  • Why would a failed past performance item be worth examining?

     

  • Why would a firm not mitigate small risks to business?

     

  • Which of the following is an example of an internal priority?

     

  • What is a mission statement?

     

  • What is meant by disaster planning?

     

  • Which of the following is a barrier to entry?

     

  • What section of the environment would your competitors be categorized as?

     

  • What should a company prepare financial ratios for?

     

  • What does the action plan portion of a strategic plan accomplish?

     

  • What is the simplest way to make sure that a plan is launched and completed by all parties involved?

     

  • Which of the following is a method a company could use to evaluate its competitive advantage?

     

  • What is meant by scenario planning?

     

  • Which of the following is the method often used to ensure that managers implement strategic plans?

     

  • Why is it important to have someone who was not involved in creating the plan review the final strategic plan?

     

  • Which of the following is a common risk outside the control of the business?

     

  • Why is it important to reflect on past successes?

     

  • Which of the following would be the best way to mitigate the financial impact of a natural disaster?

     

  • Why is it important to think about execution before planning?

     

  • Which of the following non financial factors from the past should be examined as they impact the company the most?

     

  • What is a SWOT Analysis?

     

  • What is a common pitfall discovered when a strategic plan is implemented?

     

  • What must a competitive advantage be in order truly to be an advantage?

     

  • How does a firm prioritize which threats to their business would be most damaging?

     

  • Which of the following would be an example of a Customer Strategic Priority?

     

  • What else must a company have besides an advantage in order to succeed in the long term?