3.7 Analysing the strategic position of a business

Question 1

Short-termism

Answer 1

A focus on immediate results and short-term gains without considering long-term
consequences or sustainable growth strategies.

Question 2

Strategy

Answer 2

A plan or course of action designed to achieve long-term goals or objectives, often involving
analysis, decision-making and resource allocation.

Question 3

Tactics

Answer 3

Specific actions implemented to achieve short-term objectives within the broader framework
of a strategy.

Question 4

SWOT analysis

Answer 4

An assessment tool used to identify a business’s strengths, weaknesses, opportunities and
threats, providing insights for strategic planning and decision-making

Question 5

Core competencies

Answer 5

Unique capabilities or strengths that differentiate a business from its competitors and
contribute to its competitive advantage.

Question 6

Regulator

Answer 6

A governmental or non-governmental entity responsible for overseeing and enforcing rules,
regulations and standards within a particular industry or sector

Question 7

Infrastructure

Answer 7

The physical and organisational structures, facilities and systems necessary for the operation
of a society or enterprise, including transportation, communication and utilities.

Question 8

Fiscal policy

Answer 8

Government policies related to taxation, spending and borrowing aimed at influencing
economic conditions, such as inflation, unemployment and economic growth.

Question 9

Monetary policy

Answer 9

Government policies related to the control and regulation of money supply, interest rates and
credit conditions, often implemented by central banks to influence economic activity and
stabilise financial markets.

Question 10

Open trade

Answer 10

A policy of unrestricted international trade and commerce, promoting the free flow of goods,
services and capital across borders without barriers or tariffs.

Question 11

Protectionism

Answer 11

A policy of imposing restrictions, tariffs or trade barriers to protect domestic industries from
foreign competition, often motivated by concerns about job loss or economic sovereignty.

Question 12

Migration

Answer 12

The movement of people from one place to another, either within a country or across
international borders.

Question 13

Corporate social responsibility

Answer 13

The ethical and voluntary commitment of businesses to contribute to the well-being of society
and the environment, beyond legal obligations