The Strategic Management Process and Industrial Analysis Tools (Grade 12 NSC Matric Business Studies): Quizzes
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Practise the questions
10 questions from this quiz
What is strategy in business?
What is strategy in business?
A deliberate course of action to achieve goals
What characteristic defines the strategic management process?
What characteristic defines the strategic management process?
It operates as a continuous cycle
Which of these is an internal weakness in SWOT analysis?
Which of these is an internal weakness in SWOT analysis?
High employee turnover
Which example represents an opportunity in SWOT analysis?
Which example represents an opportunity in SWOT analysis?
Supplier price reductions
What increases buyers' bargaining power in Porter's Five Forces?
What increases buyers' bargaining power in Porter's Five Forces?
Purchasing in bulk
What makes threat of new entrants high in Porter's model?
What makes threat of new entrants high in Porter's model?
Low barriers to entry
What are price wars in competitive rivalry?
What are price wars in competitive rivalry?
Purposefully lower prices to reduce rivals
Which is an economic factor in PESTLE analysis?
Which is an economic factor in PESTLE analysis?
Inflation rates
What is a recommended response to social challenges like language barriers?
What is a recommended response to social challenges like language barriers?
Hire employees conversant in local languages
When do industrial analysis tools work best?
When do industrial analysis tools work best?
When used together rather than in isolation