10 Questions
What is the purpose of the Competitive Profile Matrix (CPM)?
To identify a firm's major competitors and its particular strengths and weaknesses in relation to a sample firm's strategic position
What is PGBL (Political, Governmental, Business Trends & Legal) all about?
helps the business navigate political landscapes, comply with regulations, stay ahead of trends, & adapt to legal limitations to exploit opportunities and mitigate threats
What is the purpose of assigning weights to the critical success factors in the Competitive Profile Matrix?
To determine the relative importance of each factor in succeeding in the industry
What does the 'rating' component in the Competitive Profile Matrix refer to?
How well the companies are performing in each area
What is the purpose of dividing the external factors in the PGBL process into 'opportunities' and 'threats'?
To exploit opportunities and mitigate threats
What is the total weights in the Competitive Profile Matrix when add up?
1.0
What is the 'weighted score' component in the Competitive Profile Matrix?
The product of the weight and the rating for each factor
Which of the following is NOT one of the four elements used in the Competitive Profile Matrix?
Industry Landscape
What is the purpose of the PGBL (Political, Governmental, Business Trends & Legal) process?
To help businesses navigate political landscapes, comply with regulations, stay ahead of trends, and adapt to legal limitations
Which of the following is NOT a step in the PGBL (Political, Governmental, Business Trends & Legal) process?
Analyze the competitive landscape using the Competitive Profile Matrix
Learn about key success factors in strategic management and how they impact industry competitiveness, strategy elements, product attributes, resources, competencies, and market achievements.
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