COM Strategic Planning & Analysis 2

Question 1

Which analytical tool evaluates a company's Strengths, Weaknesses, Opportunities, and Threats to inform strategic decisions?

Accepted Answer

SWOT Analysis

Answer

SWOT Analysis is a foundational strategic planning tool that assesses internal strengths/weaknesses and external opportunities/threats.

Question 2

A company's mission statement primarily communicates:

Accepted Answer

The organization's core purpose and reason for existence

Answer

A mission statement defines why the organization exists and what it fundamentally does, guiding all strategic decisions.

Question 3

In strategic planning, a 'stretch goal' is best described as:

Accepted Answer

An ambitious objective that requires significant effort and innovation to reach

Answer

Stretch goals are ambitious targets that push organizations beyond incremental improvement, often driving breakthrough innovation.

Question 4

Which of the following best describes a 'strategic gap'?

Accepted Answer

The shortfall between where an organization is and where it wants to be strategically

Answer

A strategic gap represents the difference between an organization's current state and its desired future state, driving strategic action.

Question 5

A company uses a 'Blue Ocean Strategy' when it:

Accepted Answer

Creates uncontested market space by making competition irrelevant

Answer

Blue Ocean Strategy focuses on creating new market space rather than competing in existing saturated markets.

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