Strategic Management Key Success Factors
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What is the purpose of the Competitive Profile Matrix (CPM)?

  • To analyze a firm's internal strengths and weaknesses
  • To assess the overall industry landscape and identify opportunities and threats
  • To identify a firm's major competitors and its particular strengths and weaknesses in relation to a sample firm's strategic position (correct)
  • To determine the weights and ratings of critical success factors

    • What is PGBL (Political, Governmental, Business Trends & Legal) all about?

  • Assign weights to the factors
  • helps the business navigate political landscapes, comply with regulations, stay ahead of trends, & adapt to legal limitations to exploit opportunities and mitigate threats (correct)
  • Divide the factors into opportunities and threats
  • Analyze the competitive landscape using the Competitive Profile Matrix

    • What is the purpose of assigning weights to the critical success factors in the Competitive Profile Matrix?

  • To identify the firm's major competitors
  • To rate how well the company is performing in each area
  • To calculate the weighted score for each factor
  • To determine the relative importance of each factor in succeeding in the industry (correct)

    • What does the 'rating' component in the Competitive Profile Matrix refer to?

    <p>How well the companies are performing in each area</p> Signup and view all the answers

    What is the purpose of dividing the external factors in the PGBL process into 'opportunities' and 'threats'?

    <p>To exploit opportunities and mitigate threats</p> Signup and view all the answers

    What is the total weights in the Competitive Profile Matrix when add up?

    <p>1.0</p> Signup and view all the answers

    What is the 'weighted score' component in the Competitive Profile Matrix?

    <p>The product of the weight and the rating for each factor</p> Signup and view all the answers

    Which of the following is NOT one of the four elements used in the Competitive Profile Matrix?

    <p>Industry Landscape</p> Signup and view all the answers

    What is the purpose of the PGBL (Political, Governmental, Business Trends & Legal) process?

    <p>To help businesses navigate political landscapes, comply with regulations, stay ahead of trends, and adapt to legal limitations</p> Signup and view all the answers

    Which of the following is NOT a step in the PGBL (Political, Governmental, Business Trends & Legal) process?

    <p>Analyze the competitive landscape using the Competitive Profile Matrix</p> Signup and view all the answers

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