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What is the purpose of a Competitive Profile Matrix (CPM)?
What is the purpose of a Competitive Profile Matrix (CPM)?
- To assign weights to competitors in the industry
- To identify a firm's major competitors and their strengths and weaknesses (correct)
- To analyze consumer behavior in the industry
- To calculate the financial performance of a firm
In the context of CPM, what do Critical Success Factors represent?
In the context of CPM, what do Critical Success Factors represent?
- Factors that guarantee failure in an industry
- The key areas that must be performed at the highest level for success (correct)
- Factors that are not important for success
- Factors that are irrelevant in strategic planning
How are weights assigned in a Competitive Profile Matrix?
How are weights assigned in a Competitive Profile Matrix?
- Based on historical data
- Indicating importance of factors in succeeding in the industry (correct)
- Based on the company's age in the industry
- Randomly assigned
What does the rating in CPM refer to?
What does the rating in CPM refer to?
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How is the Weighted Score calculated in a CPM?
How is the Weighted Score calculated in a CPM?
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What is the range of ratings in a CPM?
What is the range of ratings in a CPM?
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Why is it important to compare strengths and weaknesses to industry rate factors?
Why is it important to compare strengths and weaknesses to industry rate factors?
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