CHAPTER 3

Question 1

is the process that identifies an organization’s strengths, weaknesses, opportunities and threats.

Answer 1

SWOT Analysis

Question 2

is a basic, analytical framework that assesses what an entity can and cannot do, for factors both internal as well as external.

Answer 2

SWOT

Question 3

The main purpose of this is to add value to goods and services that would result to easy recruitment of new customers.

Answer 3

SWOT Analysis

Question 4

ELEMENTS OF SWOT ANALYSIS

Answer 4

STRENGTH (TOP LEFT) ( + INTERNAL FACTOR)

WEAKNESS (TOP RIGHT) (- INTERNAL FACTOR)

OPPORTUNITY (BOTTOM LEFT) ( + EXTERNAL FACTOR)

THREAT (BOTTOM RIGHT) (- EXTERNAL FACTOR)

Question 5

Describe what an organization excels at and separate it from the competition.

Answer 5

Strengths.

Question 6

Example of these, are strong brand, loyal customer base, strong balance sheet, and unique technology.

Answer 6

Strengths.

Question 7

Are areas where the business needs to improve to remain competitive such as high levels, of debt, an inadequate supply chain, lack of capital, limited expertise, substandard service or physical location.

Answer 7

Weaknesses

Question 8

Examples of Weaknesses
(Doesn’t need to memorize, but be familiar to it)

Answer 8

ONLINE PRESENCE
BRANDING AND REPUTATION
OUTDATED TECHNOLOGY
MARKETING BUDGET
HUMAN RESOURCES

Question 9

Refers to favorable external factors that an organization can use to give it a competitive advantage such as market growth, lifestyle changes, resolution of current problems or the basic ability to offer a higher degree of value in relation to competitors to promote and increase demand.

Answer 9

Opportunities.

Question 10

Refers to factors that have the potential to harm an organization such as
cost for inputs,
increasing competition,
tight labor supply,
unsustainable price,
increased government regulation,
economic downturns,
negative press coverage,
shifts in consumer behavior

Answer 10

Threats

Question 11

MAJOT BENEFIT OF SWOT ANALYSIS.

Answer 11

Cost-effective
Wide range of application
Promotes Discussion
Provides Visual Overview
Offers Insights
Integration and Synthesis
Fosters Collaboration

Question 12

Refers to the process of concentrating resources and efforts on a specific set of goals or priorities to achieve a competitive advantage or success in business.

Answer 12

Strategic Focus

Question 13

It provides clear direction, optimizes the allocation of resources, and ensures that actions are aligned with long-term objective.

Answer 13

Strategic Focus

Question 14

FOUR MAJOR DIRECTIONS FOR STRATEGIC EFFORTS.
(A - D - T - D)

Answer 14

AGGRESSIVE
DIVERSIFICATION
TURNAROUND (wALANG SPACE)
DEFENSIVE

Question 15

Achieving rapid growth by using the organization’s strengths and capitalizing on favorable market conditions.

Answer 15

Aggressive

Question 16

Reducing risk and stabilizing revenue streams by expanding into new markets, industries, or product lines.

Answer 16

Diversification

Question 17

Reviving a struggling business by addressing operational inefficiencies, cutting costs, or reorienting the business model.

Answer 17

Turnaround

Question 18

Were developed by globally pre-eminent management thinkers.

Answer 18

Blue Ocean Strategy
Red Ocean Strategy

Question 18

Protecting the company’s existing market position and assets by minimizing risks and guarding against external threats.

Answer 18

Defensive

Question 18

Who are the globally pre-eminent management thinkers.

Answer 18

Chan Kim and Renee Mauborgne

Question 18

Represents all the industries in existence today – the known market space.

Answer 18

Red Ocean Strategy

Question 18

referred to a market for a product where there is no competition or very less competition and there is no pricing pressure.

Answer 18

Blue Ocean Strategy

Question 19

In this, the companies compete within established boundaries, often leading to intense competition.

Answer 19

Red Ocean Strategy.