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BCS - Module 2: Understanding the Strategic Context Flashcards

1
Q

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

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

A

b, c and e

Human
Physical
Financial

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2
Q

Which of the following form part of PESTLE Analysis:

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

A

a and d

Economic
Environmental

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3
Q

What does PESTLE stand for?

A 
Political
Economic
Social
Technological
Legal
Environmental
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4
Q

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

A

Porters Five Forces model

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5
Q

Which of the following are External factors in SWOT Analysis:

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

A

b and c

Threats
Opportunities

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6
Q

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

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

A

c

Opportunities

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7
Q

What does SWOT stand for?

A

Strengths
Weaknesses
Opportunities
Threats

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8
Q

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

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

A

d

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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9
Q

What does MOST stand for?

A

Mission
Objectives
Strategies
Tactics

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10
Q

What are SMART objectives?

A 
Specific
Measurable
Agreed
Realistic
Time-based
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11
Q

What does CSF stand for?

A

Critical Success Factor

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12
Q

What does KPI stand for?

A

Key Performance Indicator

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13
Q

What does PT stand for?

A

Performance Targets

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14
Q

What is at the center of the Balanced Business Scorecard?

A

Vision & Strategy

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15
Q

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

a, b, d, f

Financial
Learning & Growth
Customer
Internal Business Processes

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16
Q

What can PESTLE factors impact?

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

A

a

Objectives, Strategies and Tactics

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17
Q

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

a) True
b) False

A

a

True

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18
Q

What do Strengths and Weaknesses help determine?

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

A

a and c

Strategies
Tactics

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19
Q

deletee

A

deletee

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20
Q

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

A

3) Direction and Scope

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21
Q

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

A

1) fulfil stakeholder expectations

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22
Q

In a Resource Audit what does this come under?

Buildings, stock, equipment, land etc

  1. Physical
  2. Know-how
  3. Human
  4. Financial
  5. Reputation
A
  1. Physical
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23
Q

In a Resource Audit what does this come under?

Brand and Goodwill

  1. Physical
  2. Know-how
  3. Human
  4. Financial
  5. Reputation
A
  1. Reputation
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24
Q

In a Resource Audit what does this come under?

Staff and their Expertise

  1. Physical
  2. Know-how
  3. Human
  4. Financial
  5. Reputation
A
  1. Human
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25
Q

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
A
  1. Know-how
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26
Q

In a Resource Audit what does this come under?

Cash flow, credit etc

  1. Physical
  2. Know-how
  3. Human
  4. Financial
  5. Reputation
A
  1. Financial
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27
Q

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
A
  1. Physical
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28
Q

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
A
  1. Financial
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29
Q

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
A
  1. Human
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30
Q

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
31
Q

In a Resource Audit what does this come under?

Gold status dealership

  1. Physical
  2. Know-how
  3. Human
  4. Financial
  5. Reputation
A
  1. Reputation
32
Q

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
33
Q

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
34
Q

What part of PESTLE analysis is this?

Recycling and scrappage schemes

  1. Political
  2. Economic
  3. Socio-cultural
  4. Technological
  5. Legal
  6. Environmental
A
  1. Environmental
35
Q

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
A
  1. Socio-cultural
36
Q

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
A
  1. Technological
37
Q

What part of PESTLE analysis is this?

Spiralling fuel costs

  1. Political
  2. Economic
  3. Socio-cultural
  4. Technological
  5. Legal
  6. Environmental
38
Q

What does this description relate to in MOST analysis?

Approach(es) to achieve the key goals

  1. Mission
  2. Objectives
  3. Strategies
  4. Tactics
A
  1. Strategies
39
Q

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
40
Q

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
A
  1. Objectives
41
Q

What does this description relate to in MOST analysis?

Details ways that approaches will be implemented

  1. Mission
  2. Objectives
  3. Strategies
  4. Tactics
42
Q

Which of the following are Internal factors in SWOT Analysis:

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

A

a) Strengths

d) Weaknesses

43
Q

“To be the number one dealership in the UK” is a:

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

A

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”

44
Q

“Boost sales leading up to new registration dates” is a:

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

A

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”

45
Q

“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

A

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”

46
Q

What is missing from the SMART objectives?

Specific, …, Agreed/Achievable, Realistic/Relevant, Time-based

  1. Manageable
  2. Measurable
  3. Marketable
  4. Mature
A
  1. Measurable
47
Q

What is missing from the SMART objectives?

…, Measurable, Agreed/Achievable, Realistic/Relevant, Time-based

  1. Specific
  2. Secret
  3. Short
  4. Stable
48
Q

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
A
  1. must succeed, meet objectives
49
Q

Critical Success Factors may be industry wide or organisation specific

  1. True
  2. False
50
Q

Key Performance Indicators are…

… measures that assess the … of the organisation

  1. Tangible, wealth
  2. Tangible, performance
  3. Intangible, wealth
  4. Intangible. performance
A
  1. Tangible, performance
51
Q

Performance Targets are high level objectives for specific areas

  1. True
  2. False
A
  1. False

Performance Targets are LOWER level objectives for specific areas

52
Q

Which measurement is this?

High customer retention rate

  1. CSF
  2. KPI
  3. Performance Target
A

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

53
Q

Which measurement is this?

Excellent service provision

  1. CSF
  2. KPI
  3. Performance Target
A

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

54
Q

Which measurement is this?

Percentage of previous customers who buy again

  1. CSF
  2. KPI
  3. Performance Target
A

Percentage of previous customers who buy again =

  1. 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

55
Q

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
A

98% rate service ‘good’ or better (on a rating scale of excellent, good, fair, bad) =

  1. 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

56
Q

Which measurement is this?

50% of sales to previous customers

  1. CSF
  2. KPI
  3. Performance Target
A

50% of sales to previous customers

  1. 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

57
Q

Which measurement is this?

Customer feedback on service provision

  1. CSF
  2. KPI
  3. Performance Target
A

Customer feedback on service provision

  1. 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

58
Q

Which perspective is this in the Balanced Business Scorecard?

Create Quality Partnerships

  1. Financial
  2. Customer
  3. Internal Business Processes
  4. Learning and Growth
A
  1. Internal Business Processes
59
Q

Which perspective is this in the Balanced Business Scorecard?

Maximise Shareholder Value

  1. Financial
  2. Customer
  3. Internal Business Processes
  4. Learning and Growth
60
Q

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
A
  1. Internal Business Processes
61
Q

Which perspective is this in the Balanced Business Scorecard?

Maximise Operational Effectiveness

  1. Financial
  2. Customer
  3. Internal Business Processes
  4. Learning and Growth
A
  1. Internal Business Processes
62
Q

Which perspective is this in the Balanced Business Scorecard?

Exceed Customer Expectations

  1. Financial
  2. Customer
  3. Internal Business Processes
  4. Learning and Growth
63
Q

Which perspective is this in the Balanced Business Scorecard?

Recruit Quality Staff

  1. Financial
  2. Customer
  3. Internal Business Processes
  4. Learning and Growth
A
  1. Learning and Growth
64
Q

Which perspective is this in the Balanced Business Scorecard?

Train Employees

  1. Financial
  2. Customer
  3. Internal Business Processes
  4. Learning and Growth
A
  1. Learning and Growth
65
Q

Which perspective is this in the Balanced Business Scorecard?

Inspire Customer Loyalty

  1. Financial
  2. Customer
  3. Internal Business Processes
  4. Learning and Growth
66
Q

Resource audit is used for

  1. Internal Analysis
  2. External Analysis
A
  1. Internal Analysis
67
Q

PESTLE is used for

  1. Internal Analysis
  2. External Analysis
A
  1. External Analysis
68
Q

Strengths and Weakness within SWOT are used for

  1. Internal Analysis
  2. External Analysis
A
  1. Internal Analysis
69
Q

Opportunities and Threats within SWOT are used for

  1. Internal Analysis
  2. External Analysis
A
  1. External Analysis
70
Q

Mission and Objectives within MOST are used for

  1. Internal Analysis
  2. External Analysis
A
  1. Internal Analysis
71
Q

Strategies and Tactics within MOST are used for

  1. Internal Analysis
  2. External Analysis
A
  1. Internal Analysis
72
Q

CSFs, KPIs and PTs are used for

  1. Internal Analysis
  2. External Analysis
A
  1. Internal Analysis
73
Q

Balances Business Scorecard is used for

  1. Internal Analysis
  2. External Analysis
A
  1. Internal Analysis

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