BCS - Module 2: Understanding the Strategic Context Flashcards by Tom Williams

Which of the following are Tangible Resources in a Resource Audit:

a) Know-how
b) Human
c) Physical
d) Reputation
e) Financial

b, c and e

Human
Physical
Financial

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Which of the following form part of PESTLE Analysis:

a) Economic
b) Educational
c) Ergonomic
d) Environmental

a and d

Economic
Environmental

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What does PESTLE stand for?

Political
Economic
Social
Technological
Legal
Environmental

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Which model would you use following PESTLE analysis to consider the competition an organisation faces?

Porters Five Forces model

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Which of the following are External factors in SWOT Analysis:

a) Strengths
b) Threats
c) Opportunities
d) Weaknesses

b and c

Threats
Opportunities

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“Changes in the European markets will benefit our products” would be considered a:

a) Strengths
b) Threats
c) Opportunities
d) Weaknesses

Opportunities

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What does SWOT stand for?

Strengths
Weaknesses
Opportunities
Threats

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“To increase vehicle sales by 25% over 5 years” is a:

a) Strategy
b) Tactic
c) Mission
d) Objective

Objective

Mission would be “to be the number one dealership in the UK”

Objective would be “To increase vehicle sales by 25% over 5 years”

Strategy would be “Boost sales leading up to new registration dates”

Tactic would be “8 weeks before the new registration dates, write to all customers whose vehicles are coming up to 3 years old”

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What does MOST stand for?

Mission
Objectives
Strategies
Tactics

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What are SMART objectives?

Specific
Measurable
Agreed
Realistic
Time-based

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What does CSF stand for?

Critical Success Factor

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What does KPI stand for?

Key Performance Indicator

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What does PT stand for?

Performance Targets

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What is at the center of the Balanced Business Scorecard?

Vision & Strategy

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Which of the following are perspectives in the BBS?

a) Financial
b) Learning & Growth
c) Business
d) Customer
e) Legal
f) Internal Business Process

a, b, d, f

Financial
Learning & Growth
Customer
Internal Business Processes

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What can PESTLE factors impact?

a) Objectives, Strategies and Tactics
b) Strengths, Weaknesses and Opportunities
c) CSF’s, KPI’s and PT’s

Objectives, Strategies and Tactics

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Mission and Objectives help identify CSF’s and KPI’s:

a) True
b) False

True

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What do Strengths and Weaknesses help determine?

a) Strategies
b) Environmental influences
c) Tactics
d) Political influences
e) Mission

a and c

Strategies
Tactics

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deletee

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What is missing from the Strategy Definition?

“… of an organisation over the long term, which achieves advantage for the organisation through its configuration of resources within a changing environment and to fulfil stakeholder expectations”

1) Decisions and Scope
2) Decisions and Steer
3) Direction and Scope
4) Direction and Steer

3) Direction and Scope

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What is missing from the Strategy Definition?

“Direction and Scope of an organisation over the long term, which achieves advantage for the organisation through its configuration of resources within a changing environment and to …”

1) fulfil stakeholder expectations
2) fulfil sponsor expectations
3) fulfil stakeholder objectives
4) fulfil sponsor objectives

1) fulfil stakeholder expectations

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In a Resource Audit what does this come under?

Buildings, stock, equipment, land etc

Physical
Know-how
Human
Financial
Reputation

Physical

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In a Resource Audit what does this come under?

Brand and Goodwill

Physical
Know-how
Human
Financial
Reputation

Reputation

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In a Resource Audit what does this come under?

Staff and their Expertise

Physical
Know-how
Human
Financial
Reputation

Human

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In a Resource Audit what does this come under? Including patents and trade marks owned 1. Physical 2. Know-how 3. Human 4. Financial 5. Reputation

2. Know-how

In a Resource Audit what does this come under? Cash flow, credit etc 1. Physical 2. Know-how 3. Human 4. Financial 5. Reputation

4. Financial

In a Resource Audit what does this come under? Premises with workshop and sales area, tools, equipment 1. Physical 2. Know-how 3. Human 4. Financial 5. Reputation

1. Physical

In a Resource Audit what does this come under? £100k credit facility available with manufacturer 1. Physical 2. Know-how 3. Human 4. Financial 5. Reputation

4. Financial

In a Resource Audit what does this come under? 3 qualified mechanics, 2 apprentices, 3 experienced sales staff 1. Physical 2. Know-how 3. Human 4. Financial 5. Reputation

3. Human

In a Resource Audit what does this come under? 20 years experience servicing this manufacturer's vehicles 1. Physical 2. Know-how 3. Human 4. Financial 5. Reputation

2. Know-how

In a Resource Audit what does this come under? Gold status dealership 1. Physical 2. Know-how 3. Human 4. Financial 5. Reputation

5. Reputation

What part of PESTLE analysis is this? Government encouragement of cycle to work schemes 1. Political 2. Economic 3. Socio-cultural 4. Technological 5. Legal 6. Environmental

1. Political

What part of PESTLE analysis is this? Car tax banding - lower for less polluting vehicles 1. Political 2. Economic 3. Socio-cultural 4. Technological 5. Legal 6. Environmental

5. Legal

What part of PESTLE analysis is this? Recycling and scrappage schemes 1. Political 2. Economic 3. Socio-cultural 4. Technological 5. Legal 6. Environmental

6. Environmental

What part of PESTLE analysis is this? One-upmanship of owning a new car evident via number plate 1. Political 2. Economic 3. Socio-cultural 4. Technological 5. Legal 6. Environmental

3. Socio-cultural

What part of PESTLE analysis is this? Safety advances such as: Traction control, Automatic parking 1. Political 2. Economic 3. Socio-cultural 4. Technological 5. Legal 6. Environmental

4. Technological

What part of PESTLE analysis is this? Spiralling fuel costs 1. Political 2. Economic 3. Socio-cultural 4. Technological 5. Legal 6. Environmental

2. Economic

What does this description relate to in MOST analysis? Approach(es) to achieve the key goals 1. Mission 2. Objectives 3. Strategies 4. Tactics

3. Strategies

What does this description relate to in MOST analysis? What business you are in and what you intend to achieve 1. Mission 2. Objectives 3. Strategies 4. Tactics

1. Mission

What does this description relate to in MOST analysis? Key goals against which achievements can be measured 1. Mission 2. Objectives 3. Strategies 4. Tactics

2. Objectives

What does this description relate to in MOST analysis? Details ways that approaches will be implemented 1. Mission 2. Objectives 3. Strategies 4. Tactics

4. Tactics

Which of the following are Internal factors in SWOT Analysis: a) Strengths b) Threats c) Opportunities d) Weaknesses

a) Strengths | d) Weaknesses

"To be the number one dealership in the UK" is a: a) Strategy b) Tactic c) Mission d) Objective

c) Mission Mission would be "to be the number one dealership in the UK" Objective would be "To increase vehicle sales by 25% over 5 years" Strategy would be "Boost sales leading up to new registration dates" Tactic would be "8 weeks before the new registration dates, write to all customers whose vehicles are coming up to 3 years old"

"Boost sales leading up to new registration dates" is a: a) Strategy b) Tactic c) Mission d) Objective

a) Strategy Mission would be "to be the number one dealership in the UK" Objective would be "To increase vehicle sales by 25% over 5 years" Strategy would be "Boost sales leading up to new registration dates" Tactic would be "8 weeks before the new registration dates, write to all customers whose vehicles are coming up to 3 years old"

"8 weeks before the new registration dates, write to all customers whose vehicles are coming up to 3 years old" is a: a) Strategy b) Tactic c) Mission d) Objective

b) Tactic Mission would be "to be the number one dealership in the UK" Objective would be "To increase vehicle sales by 25% over 5 years" Strategy would be "Boost sales leading up to new registration dates" Tactic would be "8 weeks before the new registration dates, write to all customers whose vehicles are coming up to 3 years old"

What is missing from the SMART objectives? Specific, ..., Agreed/Achievable, Realistic/Relevant, Time-based 1. Manageable 2. Measurable 3. Marketable 4. Mature

2. Measurable

What is missing from the SMART objectives? ..., Measurable, Agreed/Achievable, Realistic/Relevant, Time-based 1. Specific 2. Secret 3. Short 4. Stable

1. Specific

What are Critical Success Factors? Areas where the organisation ... in order to achieve positive performance and ... 1. must improve, meet expectations 2. must improve, meet objectives 3. must succeed, meet expectations 4. must succeed, meet objectives

4. must succeed, meet objectives

Critical Success Factors may be industry wide or organisation specific 1. True 2. False

1. True

Key Performance Indicators are... ... measures that assess the ... of the organisation 1. Tangible, wealth 2. Tangible, performance 3. Intangible, wealth 4. Intangible. performance

2. Tangible, performance

Performance Targets are high level objectives for specific areas 1. True 2. False

2. False Performance Targets are LOWER level objectives for specific areas

Which measurement is this? High customer retention rate 1. CSF 2. KPI 3. Performance Target

High customer retention rate = 1. CSF CSFs are areas where the organisation must succeed in order to achieve positive performance and meet objectives KPIs are tangible measures that assess the performance of the organisation PTs define targets that the organisation is aiming for and are lower level objectives for specific areas

Which measurement is this? Excellent service provision 1. CSF 2. KPI 3. Performance Target

Excellent service provision = 1. CSF CSFs are areas where the organisation must succeed in order to achieve positive performance and meet objectives KPIs are tangible measures that assess the performance of the organisation PTs define targets that the organisation is aiming for and are lower level objectives for specific areas

Which measurement is this? Percentage of previous customers who buy again 1. CSF 2. KPI 3. Performance Target

Percentage of previous customers who buy again = 2. KPI CSFs are areas where the organisation must succeed in order to achieve positive performance and meet objectives KPIs are tangible measures that assess the performance of the organisation PTs define targets that the organisation is aiming for and are lower level objectives for specific areas

Which measurement is this? 98% rate service 'good' or better (on a rating scale of excellent, good, fair, bad) 1. CSF 2. KPI 3. Performance Target

98% rate service 'good' or better (on a rating scale of excellent, good, fair, bad) = 3. Performance Target CSFs are areas where the organisation must succeed in order to achieve positive performance and meet objectives KPIs are tangible measures that assess the performance of the organisation PTs define targets that the organisation is aiming for and are lower level objectives for specific areas

Which measurement is this? 50% of sales to previous customers 1. CSF 2. KPI 3. Performance Target

50% of sales to previous customers 3. Performance Target CSFs are areas where the organisation must succeed in order to achieve positive performance and meet objectives KPIs are tangible measures that assess the performance of the organisation PTs define targets that the organisation is aiming for and are lower level objectives for specific areas

Which measurement is this? Customer feedback on service provision 1. CSF 2. KPI 3. Performance Target

Customer feedback on service provision 2. KPI CSFs are areas where the organisation must succeed in order to achieve positive performance and meet objectives KPIs are tangible measures that assess the performance of the organisation PTs define targets that the organisation is aiming for and are lower level objectives for specific areas

Which perspective is this in the Balanced Business Scorecard? Create Quality Partnerships 1. Financial 2. Customer 3. Internal Business Processes 4. Learning and Growth

3. Internal Business Processes

Which perspective is this in the Balanced Business Scorecard? Maximise Shareholder Value 1. Financial 2. Customer 3. Internal Business Processes 4. Learning and Growth

1. Financial

Which perspective is this in the Balanced Business Scorecard? Create High Quality Products 1. Financial 2. Customer 3. Internal Business Processes 4. Learning and Growth

3. Internal Business Processes

Which perspective is this in the Balanced Business Scorecard? Maximise Operational Effectiveness 1. Financial 2. Customer 3. Internal Business Processes 4. Learning and Growth

3. Internal Business Processes

Which perspective is this in the Balanced Business Scorecard? Exceed Customer Expectations 1. Financial 2. Customer 3. Internal Business Processes 4. Learning and Growth

2. Customer

Which perspective is this in the Balanced Business Scorecard? Recruit Quality Staff 1. Financial 2. Customer 3. Internal Business Processes 4. Learning and Growth

4. Learning and Growth

Which perspective is this in the Balanced Business Scorecard? Train Employees 1. Financial 2. Customer 3. Internal Business Processes 4. Learning and Growth

4. Learning and Growth

Which perspective is this in the Balanced Business Scorecard? Inspire Customer Loyalty 1. Financial 2. Customer 3. Internal Business Processes 4. Learning and Growth

2. Customer

Resource audit is used for 1. Internal Analysis 2. External Analysis

1. Internal Analysis

PESTLE is used for 1. Internal Analysis 2. External Analysis

2. External Analysis

Strengths and Weakness within SWOT are used for 1. Internal Analysis 2. External Analysis

1. Internal Analysis

Opportunities and Threats within SWOT are used for 1. Internal Analysis 2. External Analysis

2. External Analysis

Mission and Objectives within MOST are used for 1. Internal Analysis 2. External Analysis

1. Internal Analysis

Strategies and Tactics within MOST are used for 1. Internal Analysis 2. External Analysis

1. Internal Analysis

CSFs, KPIs and PTs are used for 1. Internal Analysis 2. External Analysis

1. Internal Analysis

Balances Business Scorecard is used for 1. Internal Analysis 2. External Analysis

1. Internal Analysis