CSC Strategic Planning & Business Analysis 1

Question 1

What is the first step in strategic planning?

Accepted Answer

Defining mission, vision, and core values.

Answer

Setting short-term goals.

Answer

Choosing business partners.

Answer

Analyzing competitor strategies.

Question 2

What is a SWOT analysis used for?

Accepted Answer

To evaluate strengths, weaknesses, opportunities, and threats.

Answer

To analyze financial performance.

Answer

To assess competitive advantage.

Answer

To assess employee performance.

Question 3

What is the role of business analysis in strategic planning?

Accepted Answer

Business analysis aligns strategies with organizational goals.

Answer

Business analysis ensures financial success.

Answer

Business analysis tracks employee performance.

Answer

Business analysis sets product pricing.

Question 4

What is the purpose of defining key performance indicators (KPIs)?

Accepted Answer

To track progress toward strategic goals.

Answer

To measure the organization’s profitability.

Answer

To assess employee satisfaction.

Answer

To evaluate market share.

Question 5

What is the balanced scorecard approach?

Accepted Answer

A tool for measuring company performance in various areas.

Answer

A method for tracking employee performance.

Answer

A method for reducing business expenses.

Answer

A tool for managing product inventory.

Question 6

How does the PESTLE analysis contribute to strategic planning?

Accepted Answer

It assesses external environmental factors.

Answer

It evaluates internal processes.

Answer

It defines short-term business goals.

Answer

It tracks customer satisfaction.

Question 7

Why is stakeholder analysis crucial in business analysis?

Accepted Answer

It helps identify key stakeholders and their interests.

Answer

It determines product pricing.

Answer

It tracks employee performance.

Answer

It defines the company’s mission statement.

Question 8

What is scenario planning in strategic management?

Accepted Answer

Analyzing future scenarios and preparing for various outcomes.

Answer

Planning for the best possible outcome only.

Answer

Planning based solely on past performance.

Answer

Focusing only on financial outcomes.

Question 9

What is the role of risk management in business analysis?

Accepted Answer

It helps identify and mitigate risks that could affect the strategy’s success.

Answer

It focuses only on financial risks.

Answer

It tracks market share.

Answer

It focuses solely on internal processes.