Business Performance Assessment and Environmental Scanning Quiz
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Questions and Answers

What is a key factor that organizations must consider when assessing organizational performance?

  • Customer feedback
  • Market share growth
  • Employee satisfaction
  • Return on investment (correct)

    • When analyzing the external environment, what is the main purpose for organizations to scan and assess it?

  • To benchmark against industry standards
  • To determine competitors' weaknesses
  • To identify strategic factors that pose opportunities and threats (correct)
  • To establish partnerships with suppliers

    • What is one of the main objectives when generating, evaluating, and selecting alternative strategies in strategic management?

  • Identify the most profitable market segment
  • Increase production efficiency
  • Minimize employee turnover
  • Achieve a set of objectives (correct)

    • In strategic management, what does an organization determine when scanning and assessing its internal corporate environment?

    <p>Strengths or core competencies and weaknesses</p> Signup and view all the answers

    What is one of the main tasks when evaluating implemented strategies in strategic management?

    <p>Monitoring strategies through feedback systems and control activities</p> Signup and view all the answers

    What is a primary aspect that organizations should revise based on analyzing strategic factors in strategic management?

    <p>Corporate mission and objectives</p> Signup and view all the answers

    What determines the success of the implementation stage of a strategy?

    <p>Effective communication by upper management</p> Signup and view all the answers

    Which of the following is a critical component of successful strategy implementation?

    <p>Optimizing resource usage</p> Signup and view all the answers

    What is imperative for an enterprise when it comes to allocating resources?

    <p>Sound strategy</p> Signup and view all the answers

    Why does success today not guarantee success in the future according to the text?

    <p>Strategies need constant evaluation</p> Signup and view all the answers

    Which phase of strategic planning involves establishing specific targets or goals for implementation?

    <p>Strategy Formulation</p> Signup and view all the answers

    What does the construction of a solid structure help to optimize according to the text?

    <p>Resource usage</p> Signup and view all the answers

    Which strategic planning model is best for identifying strategic issues and goals caused by external factors?

    <p>Alignment Strategic Planning Model</p> Signup and view all the answers

    What technique is often used in the Organic Strategic Planning Model to let participants create their ideas before sharing them with a larger group?

    <p>Storyboarding</p> Signup and view all the answers

    Which strategic planning model is best for fine-tuning a business's strategies and correcting problem areas that prevent growth?

    <p>Alignment Strategic Planning Model</p> Signup and view all the answers

    What is the first step in the Alignment Strategic Planning Model process?

    <p>Determining the business's resources, mission, programs, and required support</p> Signup and view all the answers

    Which strategic planning model emphasizes continual reference to common values and shared reflection around current processes?

    <p>Organic Strategic Planning Model</p> Signup and view all the answers

    What is the role of brainstorming in the Organic Strategic Planning Model?

    <p>It is used to pinpoint the needs of the enterprise and target the issues that need addressing</p> Signup and view all the answers

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