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capstone > deck_16991950 > Flashcards

deck_16991950 Flashcards

1
Q

What does SWOT stand for in SWOT analysis?

A) Strengths, Weaknesses, Operations, Threats
B) Strengths, Weaknesses, Opportunities, Threats
C) Strategies, Weaknesses, Opportunities, Techniques
D) Strengths, Wages, Opportunities, Trends

A

b

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2
Q

What is the primary purpose of SWOT analysis?

A) To analyze financial statements
B) To assess a firm’s internal and external environments
C) To set production schedules
D) To evaluate employee performance

A

b

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3
Q

Which of the following best describes “strengths” in a SWOT analysis?

A) External factors that could hinder the company
B) Internal factors where the firm excels relative to competitors
C) Opportunities for growth in the market
D) Regulatory changes affecting the industry

A

b

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4
Q

In SWOT analysis, what are “weaknesses”?

A) External opportunities for growth
B) Internal factors where the firm is lacking relative to competitors
C) Strong points of the company
D) Challenges posed by competitors

A

b

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5
Q

What does “opportunities” refer to in the context of SWOT analysis?

A) Internal strengths of the firm
B) External factors in the general environment that could be beneficial
C) Weaknesses that need to be addressed
D) Threats from competitors

A

b

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6
Q

What are “threats” in a SWOT analysis?

A) Positive trends in the market
B) Internal capabilities that enhance performance
C) External factors that could pose challenges
D) Opportunities for investment

A

c

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7
Q

Which of the following is an example of an opportunity for a business?

A) Increased competition in the market
B) A favorable change in economic conditions
C) Rising production costs
D) Strict regulatory requirements

A

b

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8
Q

Which of the following could be considered a threat to a company?

A) New market trends that favor their product
B) A decline in consumer preferences for their offerings
C) Strong brand loyalty among customers
D) Advances in technology that improve production efficiency

A

b

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9
Q

What is one of the primary purposes of conducting a SWOT analysis?

A) To evaluate financial statements
B) To build on strengths and leverage internal advantages
C) To set production quotas
D) To analyze employee performance

A

b

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10
Q

How can a company address its weaknesses according to SWOT analysis?

A) By ignoring them
B) By outsourcing all operations
C) By improving or mitigating internal limitations
D) By increasing prices

A

c

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11
Q

What does “exploiting opportunities” mean in the context of SWOT analysis?

A) Focusing solely on internal processes
B) Taking advantage of favorable external conditions
C) Ignoring market trends
D) Reducing production costs

A

b

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12
Q

Why is it important for a company to defend against threats identified in SWOT analysis?

A) To increase product prices
B) To protect the firm from external risks and challenges
C) To expand into new markets
D) To enhance employee satisfaction

A

b

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13
Q

What is one key purpose of SWOT analysis related to a company’s strengths?

A) To ignore internal advantages
B) To build on strengths and leverage them for competitive advantage
C) To focus solely on external factors
D) To eliminate all weaknesses

A

b

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14
Q

How should a company approach its weaknesses according to SWOT analysis?

A) By denying their existence
B) By remedying them or finding ways to work around them
C) By increasing prices
D) By ignoring them and focusing on strengths

A

b

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15
Q

What does “taking advantage of opportunities” in SWOT analysis entail?

A) Focusing only on current operations
B) Actively seeking and exploiting favorable external conditions
C) Avoiding changes in the market
D) Limiting expansion plans

A

b

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16
Q

One key advantage of SWOT analysis is that it:

A) Focuses only on financial factors
B) Forces consideration of both internal and external factors
C) Ignores competitive dynamics
D) Limits the scope of strategic planning

A

b

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17
Q

How does SWOT analysis encourage strategic planning?

A) By promoting only reactive strategies
B) By encouraging proactive rather than reactive strategies
C) By discouraging analysis of market trends
D) By focusing solely on historical data

A

b

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18
Q

What benefit does aligning strategy with environmental conditions provide?

A) It eliminates the need for market research
B) It ensures that the strategy reflects both external opportunities and internal capabilities
C) It limits the potential for growth
D) It focuses only on internal processes

A

b

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19
Q

Why is SWOT analysis considered simple yet analytically rigorous?

A) It requires complex mathematical calculations
B) It can be easily understood while still providing deep insights into strategic positioning
C) It focuses only on qualitative data
D) It does not require any data collection

A

b

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20
Q

Which advantage of SWOT analysis helps organizations to anticipate market changes?

A) It focuses only on historical performance.
B) It encourages proactive strategies.
C) It limits the analysis to internal capabilities.
D) It simplifies complex data into charts.

A

b

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21
Q

One advantage of SWOT analysis is that it helps managers to identify strengths that are almost always
sources of sustainable competitive advantages.

A

F. The strengths and capabilities of a firm, no matter how unique or impressive, may not enable it to
achieve a competitive advantage in the marketplace.

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22
Q

What is a primary limitation of SWOT analysis?

A) It is too complex to understand.
B) It is only a starting point and not a full strategy.
C) It focuses only on external factors.
D) It ignores organizational strengths altogether.

A

b

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23
Q

Why is SWOT analysis considered insufficient for evaluating competitive advantage?

A) It provides too much detail on internal factors.
B) It does not show how to achieve or sustain a competitive advantage.
C) It relies solely on quantitative data.
D) It focuses only on market trends.

A

b

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24
Q

How can SWOT analysis be best utilized by organizations?

A) As the sole decision-making tool
B) As an initial framework for deeper analysis and discussion
C) As a comprehensive market analysis
D) As a method to eliminate competition

A

b

25
Q

The SWOT analysis can show managers how to achieve a competitive advantage.

A

f

26
Q

The strengths and capabilities of a firm are enough to enable it to achieve a competitive advantage in the
marketplace.

A

f

27
Q

The SWOT framework is sufficient as the primary basis for evaluating the external opportunities and threat
of the company.

A

F. While we believe SWOT analysis is very helpful as a starting point, it should not form the primary basis
for evaluating the internal strengths and weaknesses of the company or the opportunities and threats in
the environment.

28
Q

The SWOT framework is not sufficient as the primary basis for evaluating the internal strengths and
weaknesses of a company.

A

t

29
Q

What is a significant limitation of SWOT analysis regarding action steps?

A) It provides too many actionable strategies.
B) It raises awareness of key issues but does not lead to actionable steps.
C) It focuses solely on internal factors.
D) It is too complex for managers to understand

A

b

30
Q

What must managers do after conducting a SWOT analysis to implement strategic changes?

A) Rely solely on the SWOT findings
B) Go beyond SWOT to create a clear action plan
C) Focus only on external factors
D) Ignore internal strengths and weaknesses

A

b

31
Q

What is a key limitation of SWOT analysis regarding its focus on the external environment?

A) It only considers historical data.
B) It focuses too narrowly on current customers, competitors, and technologies.
C) It ignores internal strengths and weaknesses.
D) It provides too broad a view of the market.

A

b

32
Q

: What risk do strategists face when relying on traditional definitions in SWOT analysis?

A) They may overlook internal capabilities.
B) They might focus too broadly on potential markets.
C) They could miss important changes on the periphery of their environment.
D) They will ignore all technological advancements.

A

b

33
Q

How did Encyclopaedia Britannica’s competitive position erode over time?

A) By failing to invest in print media
B) By focusing only on traditional competitors and neglecting nontraditional ones
C) By decreasing the quality of their content
D) By ignoring customer feedback

A

b

34
Q

Why is it important for strategists to look beyond current competitors in SWOT analysis?

A) To maintain the status quo
B) To identify emerging threats and opportunities that may redefine competitive relationships
C) To reduce the complexity of analysis
D) To focus solely on financial metrics

A

b

35
Q

In conducting a SWOT analysis, a risk for strategists is that they rely on traditional definitions of their
industry and competitive environment and therefore focus too narrowly on current competitors.

A

t

36
Q

What is a significant limitation of SWOT analysis in terms of market dynamics?

A) It offers too much detail on current competitors.
B) It provides a static snapshot of a single moment in time.
C) It focuses only on future predictions.
D) It emphasizes financial metrics over strategic planning.

A

b

37
Q

Why is SWOT analysis considered a “one-shot view” of a moving target?

A) It evaluates only past performance.
B) It does not account for how competition and environments evolve over time.
C) It is too complex to be actionable.
D) It ignores internal strengths and weaknesses.

A

b

38
Q

How does the static nature of SWOT analysis impact strategic planning?

A) It allows for easy implementation of strategies.
B) It can lead to outdated or irrelevant strategies if market conditions change.
C) It simplifies the decision-making process.
D) It encourages continuous improvement.

A

b

39
Q

Focusing too narrowly on current customers, technologies and competitors can lead a company to
overlook periphery industry boundaries and a new set of competitive relationships.

A

t

40
Q

EncyclopediaBritannica lost competitive positioning due to a misunderstanding of the change in
competitors, when the CD-based encyclopedia became popular for home computers.

A

t

41
Q

The static nature of the SWOT assessment is a positive advantage for it as an evaluation framework.

A

F. A key weakness of SWOT is that it is primarily a static assessment. It focuses too much company
attention on one moment in time. Essentially, this is like studying a single frame of a motion picture.
You may be able to identify the principal actors and learn something about the setting, but it does not tell
you much about the plot.

42
Q

What is a key limitation of firms focusing too heavily on a single strength in their strategy?

A) They enhance their overall performance.
B) They may ignore other critical factors necessary for success.
C) They create a well-rounded business model.
D) They increase their market share.

A

b

43
Q

How can overemphasizing one strength impact a company’s performance?

A) It can lead to greater innovation across the board.
B) It can result in neglect of other important aspects, leading to potential issues.
C) It ensures that all strengths are utilized effectively.
D) It reduces operational efficiency.

A

b

44
Q

What should companies do to avoid the pitfalls of overemphasizing one dimension of their strategy?

A) Focus solely on increasing production
B) Balance their strengths with attention to other essential factors for success
C) Ignore customer feedback
D) Reduce investments in all areas except one

A

b

45
Q

How can an overemphasis on one aspect of a product or service affect competitive success?

A) It can enhance customer satisfaction.
B) It may lead to overlooking market changes and customer needs.
C) It ensures the company stays ahead of competitors.
D) It allows for greater innovation in product development.

A

b

46
Q

Toyota, the giant automaker, paid a heavy price for its ___________ emphasis on cost control. The
resulting problems with quality and the negative publicity led to severe financial losses and an erosion of
its reputation in many markets.
A. minimal
B. superficial
C. low-budget
D. excessive

A

D

47
Q

Focusing too narrowly on current customers, technologies, and competitors can lead to a failure to notice
important changes on the periphery of their environment that may trigger the need to redefine industry
boundaries and identify a whole new set of competitive relationships. This is a result of relying
A. on traditional definitions of all industries and competitive environments.
B. on traditional definitions of the relevant industry and competitive environment.
C. solely on intuition.
D. on a superficial evaluation of the relevant industry and competitive environment.

A

b

48
Q

Competition among organizations is played out over time. As circumstances, capabilities, and strategies
change, _________ techniques do not reveal the dynamics of the competitive environment.
A. transactional analysis
B. variable analysis
C. static analysis
D. continuous

A

c

49
Q

__________ among organizations is played out over time.
A. Negotiation
B. Sustainability
C. Competition
D. Learning

A

c

50
Q

Sometimes firms become preoccupied with _________ or a key feature of the product or service they are
offering and ignore other factors needed for competitive success.
A. multiple strengths
B. multiple
opportunities
C. a single strength
D. a single
opportunity

A

c

51
Q

Company __________, no matter how unique or impressive, may not enable it to achieve a competitive
advantage in the marketplace.
A. strengths and
opportunities
B. strengths and threats
C. opportunitie
s
D. strengths and capabilities

A

d

52
Q

Strategists who rely on traditional definitions of their industry and competitive environment often focus
their sights too ___________ on current customers, technologies, and competitors.
A. broadly
B. narrowly
C. aggressively
D. widely

A

b

53
Q

A key __________ of SWOT is that it is primarily a static assessment.
A. strength
B. threat
C. opportunit
y
D. weakness

A

D

54
Q

Which of the following is a limitation of SWOT (Strengths, Weaknesses, Opportunities, and Threats)
analysis?
A. Organizational strengths may not lead to competitive advantage.
B. The SWOT focus on internal environment is too broad and integrative.
C. SWOT gives a multi-shot view of a moving target.
D. SWOT overemphasizes a multiple dimensions of strategy.

A

A

55
Q

Which of the following is not a limitation of SWOT (Strengths, Weaknesses, Opportunities, and Threats)
analysis?
A. Organizational strengths may not lead to competitive advantage.
B. The SWOT focus on the external environment is too broad and integrative.
C. SWOT gives a one-shot view of a moving target.
D. SWOT overemphasizes a single dimension of strategy.

A

B. Among the limitations of SWOT are: organizational strengths may not lead to competitive advantage;
the SWOT focus on the external environment is too narrow; it gives a one-shot view of a moving target;
and it overemphasizes a single dimension of strategy.

56
Q

Toyota paid a heavy price for its excessive emphasis on cost control. By focusing on one strength
exclusively, it suffered severe losses. This is an example of the limitations of a SWOT analysis.

A

t

57
Q

Company strengths and weaknesses are tied to its stated goals and objectives.

A

T

58
Q

Top managers have learned not to rely on SWOT to stimulate self-reflection and group discussions about
how to improve their firm and position for success.

A

F

59
Q

In conducting a SWOT analysis, a risk for strategists is that they rely on traditional definitions of their
industry and competitive environment and therefore focus too narrowly on current competitors.

A

T

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