10 Questions
What is the purpose of a benchmark in business?
To evaluate the organization's performance against a third-party comparison point
Which of the following is NOT a key component of the McKinsey 7S framework?
Shareholders
Which of the following is a key purpose of a SWOT analysis?
To analyze the organization's internal strengths, weaknesses, external opportunities, and threats
What is the primary purpose of a gap analysis in strategic management?
To identify the differences between the organization's current state and its desired future state
Which of the following is a key component of the VRIO analysis framework?
All of the above
What is the primary purpose of evaluating an organization's strategy?
To determine the effectiveness and appropriateness of the organization's current strategy
Which of the following is not a key element of the McKinsey 7S framework?
Stakeholders
What is the primary purpose of a VRIO analysis?
To determine the potential of the organization's resources and capabilities to generate a sustainable competitive advantage
Which of the following is a key component of the SWOT analysis framework?
Opportunities
What is the primary purpose of conducting a gap analysis in strategic management?
To identify the differences between the organization's current state and its desired future state, and develop strategies to close that gap
Learn about internal analysis which examines an organization's resources, strengths, weaknesses, and competitive advantages. Discover the use of GAP analysis as a tool for evaluating internal factors of a firm.
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