CodeHS Data-Driven Decision Making

Question 1

What is the first step in the strategic planning process?

Accepted Answer

Defining the organizations mission, vision, and values

Answer

Setting financial budgets

Answer

Hiring new staff

Answer

Implementing tactical plans

Question 2

What is a SWOT analysis?

Accepted Answer

An assessment of Strengths, Weaknesses, Opportunities, and Threats

Answer

A financial forecasting tool

Answer

A staff performance evaluation method

Answer

A supply chain optimization technique

Question 3

What is the difference between strategic and tactical planning?

Accepted Answer

Strategic sets long-term direction; tactical outlines specific short-term actions

Answer

They are identical processes at different levels

Answer

Tactical planning is more important than strategic

Answer

Strategic planning deals only with finances

Question 4

What role does data play in decision-making?

Accepted Answer

It provides objective evidence to support informed choices

Answer

Data should be avoided as it complicates decisions

Answer

Only financial data is relevant to decisions

Answer

Data is only useful for retrospective analysis

Question 5

What is a stakeholder analysis in strategic planning?

Accepted Answer

Identifying who is affected by decisions and understanding their interests and influence

Answer

Analyzing only shareholder financial returns

Answer

Listing all employees by department

Answer

Calculating staff turnover rates

Question 6

What is the purpose of scenario planning?

Accepted Answer

To prepare for multiple possible futures by developing response strategies

Answer

To predict the future with certainty

Answer

To avoid making any decisions until the future is clear

Answer

To select the single most likely outcome