Strategic Management Quiz

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Questions and Answers

Which of the following is the purpose of an external audit?

  • To develop an exhaustive list of every possible factor that could influence the business
  • To apply the tools and techniques in internal and external assessment
  • To determine the nature and importance of external and internal audit
  • To identify key variables that offer opportunities and threats (correct)

What is the main focus of Porter's Five Model?

  • Internal audit
  • Forecasting tool and techniques
  • Competitive analysis (correct)
  • External audit

What is the purpose of a SWOT analysis?

  • To identify key variables that offer opportunities and threats (correct)
  • To develop an exhaustive list of every possible factor that could influence the business
  • To apply the tools and techniques in internal and external assessment
  • To determine the nature and importance of external and internal audit

What is the nature of internal audit?

<p>To assess the internal forces of a business (A)</p> Signup and view all the answers

What is the purpose of an Internal Factor Evaluation (IFE) Matrix?

<p>To evaluate the internal factors of a business (B)</p> Signup and view all the answers

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