Strategic analysis

Question 1

Strategic analysis

Answer 1

the process of conducting
research into the business environment within which an organisation operates, and into the organisation itself, to help form future strategies.

Question 2

Strategic analysis

Answer 2

the process of conducting
research into the business environment within which an organisation operates, and into the organisation itself, to help form future strategies.

Question 3

SWOT analysis

Answer 3

a form of strategic analysis that identifies and analyses the main internal strengths and weaknesses and external opportunities and threats that will influence the future direction and success of a business.

Question 4

PEST analysis

Answer 4

the strategic analysis of a firm’s macro- environment, including political, economic, social and technological factors.

Question 5

Mission statement

Answer 5

a statement of the business’s core purpose and focus, phrased in a way to motivate employees and to stimulate interest by outside groups.

Question 6

Vision statement

Answer 6

a statement of what the organisation would like to achieve or accomplish in the long term.

Question 7

Boston Matrix

Answer 7

a method of analysing the product portfolio of a business in terms of market share and market growth.

star, problem child, cash cow dog. (clockwise from top left, growth on Y and share on X)

Question 8

Porter’s Five Forces analysis

Answer 8

Barriers to entry
The power of buyers
The power of suppliers
The threat of substitutes
Competitive rivalry

Question 9

Core competence

Answer 9

an important business capability that gives a firm competitive advantage.

Question 10

Core product:

Answer 10

product based on a business’s core competences, but not necessarily for final consumer or end user.