Podcast
Questions and Answers
What does SWOT stand for?
What does SWOT stand for?
- Strengths, Workforce, Operations, Threats
- Sales, Weaknesses, Opportunities, Trends
- Strategies, Workforce, Opportunities, Threats
- Strengths, Weaknesses, Opportunities, Threats (correct)
Which of the following is NOT part of the five forces that determine competitive dynamics?
Which of the following is NOT part of the five forces that determine competitive dynamics?
- Customers
- Suppliers
- Employees (correct)
- Competitive rivalry
In a SWOT analysis, what is the purpose of relating firm-specific strengths and weaknesses to industry opportunities and threats?
In a SWOT analysis, what is the purpose of relating firm-specific strengths and weaknesses to industry opportunities and threats?
- To understand the competitive market dynamics (correct)
- To develop specific business strategies
- To overlook the industry opportunities
- To identify competitors' weaknesses
Where can one look to analyze a firm's resources and capabilities as part of a SWOT analysis?
Where can one look to analyze a firm's resources and capabilities as part of a SWOT analysis?
Which stage of a SWOT analysis involves analyzing the internal strengths and weaknesses of a firm?
Which stage of a SWOT analysis involves analyzing the internal strengths and weaknesses of a firm?
What does the 'five-forces' analysis help in understanding about any given industry?
What does the 'five-forces' analysis help in understanding about any given industry?
What is the primary purpose of a mission statement in an organization?
What is the primary purpose of a mission statement in an organization?
How does a mission statement help employees?
How does a mission statement help employees?
What are the two key questions about the position of a business in its competitive market place?
What are the two key questions about the position of a business in its competitive market place?
In what ways can firms differentiate their products and services from competitors?
In what ways can firms differentiate their products and services from competitors?
How might firms create value for customers in a competitive market?
How might firms create value for customers in a competitive market?
What is the primary focus of a firm that aims to compete by offering goods and services at low cost?
What is the primary focus of a firm that aims to compete by offering goods and services at low cost?
When should a manager control processes according to the text?
When should a manager control processes according to the text?
What is the primary reason for controlling inputs based on the text?
What is the primary reason for controlling inputs based on the text?
In what scenarios should outputs be controlled according to the text?
In what scenarios should outputs be controlled according to the text?
Why must employees be carefully selected, trained, and indoctrinated according to the text?
Why must employees be carefully selected, trained, and indoctrinated according to the text?
Big data refers to:
Big data refers to:
Big data has transformed the way companies search for and respond to opportunities by:
Big data has transformed the way companies search for and respond to opportunities by:
What configuration focuses on providing the best technology or branding regardless of location?
What configuration focuses on providing the best technology or branding regardless of location?
Which configuration is characterized by duplication of activities across regions leading to increased costs?
Which configuration is characterized by duplication of activities across regions leading to increased costs?
What is a major drawback of the local value creation configuration when compared to the low-price configuration?
What is a major drawback of the local value creation configuration when compared to the low-price configuration?
Which type of businesses are organized into product groups under the Global Standard of Excellence configuration?
Which type of businesses are organized into product groups under the Global Standard of Excellence configuration?
How does organizing by market-facing product group benefit customers seeking product excellence?
How does organizing by market-facing product group benefit customers seeking product excellence?
What are regional managers accountable for in this business operation configuration?
What are regional managers accountable for in this business operation configuration?
What type of costs should be used to compute product mix variances?
What type of costs should be used to compute product mix variances?
In what type of firms are Efficiency Variance and Production Spending Variance used?
In what type of firms are Efficiency Variance and Production Spending Variance used?
What are Non-variable Costs Variances used for?
What are Non-variable Costs Variances used for?
What do variable costs change with according to the text?
What do variable costs change with according to the text?
What kind of costs are Committed Costs and Discretionary Expenses related to?
What kind of costs are Committed Costs and Discretionary Expenses related to?
Which costs are referred to as resources that vary proportionally with the level of sales?
Which costs are referred to as resources that vary proportionally with the level of sales?
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