1. Creating a powerful business strategy depends primarily on

a) choosing when and how to diversify

b) being clever at unifying functional strategies

c) crafting a series of moves and approaches to produce sustainable competitive advantage

d) steering resources into the most attractive business units

2. To identify a company’s strategy, one should consider

a) whether it is striving to be the a low-cost leader

b) whether it is concentrating on a broad or narrow spectrum of customers

c) whether it is stressing ways of product differentiation

d) all of the above

3. A company resource can relate to

a) a skill or important expertise

b) its physical and/or human resources

c) its finances

d) all of the above

4. The term SWOT analysis refers to

a) Strengths, Weaknesses, Openness and Threats

b) Situation, Workforce, Options and Tactics

c) Strengths, Weaknesses, Opportunities and Tests

d) none of the above

5. Business situation analysis (internal & external audits) involves which of the following?

a) assessing stakeholder information

b) identifying SWOT elements

c) identifying elements of sustainable competitive advantage

d) all of the above