7/23/2020 Quiz 3: Attempt review

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/ Week 3-4: Designing a competitive business model and building a solid strategic plan / Quiz 3

Started on Thursday, 23 July 2020, 9:17 PM

State Finished
Completed on Thursday, 23 July 2020, 9:21 PM
Time taken 4 mins 1 sec
Grade 15.00 out of 15.00 (100%)

Question 1 It is a written expression of how  the company will reflect an entrepreneur’s  values, beliefs, and vision –
Correct more than just  “making money.”
Mark 1.00 out of
1.00 Select one:
objectives

mission 

vision

goal

Your answer is correct.

The correct answer is: mission

Question 2 which of the following is/are Strategic Management Process?

Correct

Mark 1.00 out of Select one:

1.00
Translate plans into actions.

All of the above 

Formulate strategies.

Establish accurate controls.

Your answer is correct.

The correct answer is: All of the above

Question 3 It is the result of an entrepreneur’s dream of  something that does not exist yet and the ability  to paint
Correct a compelling picture of that dream for  everyone to see.
Mark 1.00 out of
1.00 Select one:
objectives

goal

vision 

mission

Your answer is correct.

The correct answer is: vision

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7/23/2020 Quiz 3: Attempt review

Question 4 Positive external factors the company can exploit to accomplish its mission, goals, and objectives.
Correct

Mark 1.00 out of Select one:

1.00
opportunities 

threats

strengths

weaknesses

Your answer is correct.

The correct answer is: opportunities

Question 5 which of the following is/are aspects of a small company?

Correct

Mark 1.00 out of Select one:

1.00
All of the above 

Pricing they offer

Service they provide

Products they sell

Your answer is correct.

The correct answer is: All of the above

Question 6 which of the following is/are Strategic Management Process?

Correct

Mark 1.00 out of Select one:

1.00
Identify key success factors.

Analyze competition.

Create goals and objectives.

All of the above 

Your answer is correct.

The correct answer is: All of the above

Question 7 Positive internal factors a company can draw on to accomplish its mission, goals, and objectives.
Correct

Mark 1.00 out of Select one:

1.00
mission

vision

strengths 

weaknesses

Your answer is correct.

The correct answer is: strengths

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Question 8 The practice of gathering,  organizing, and disseminating the  collective wisdom and experience  of a
Correct company’s employees for the  purpose of strengthening its  competitive position.
Mark 1.00 out of
1.00 Select one:
goals

strategy

objectives

purpose 

Your answer is correct.

The correct answer is: purpose

Question 9 Negative internal factors that inhibit a  company’s ability to accomplish its mission,  goals, and
Correct objectives.
Mark 1.00 out of
1.00 Select one:
weaknesses 

strengths

vision

mission

Your answer is correct.

The correct answer is: weaknesses

Question 10 Negative external factors that inhibit the firm's ability  to accomplish its mission, goals, and objectives.
Correct

Mark 1.00 out of Select one:

1.00
threats 

strengths

opportunities

weaknesses

Your answer is correct.

The correct answer is: threats

Question 11 The aggregation of factors that sets a company  apart from its competitors and gives it a unique 
Correct position in the market that is superior to its  competition.
Mark 1.00 out of
1.00 Select one:
strategic plan

franchise

competitive advantage 

strategic management

Your answer is correct.

The correct answer is: competitive advantage

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Question 12 It involves developing a game plan to guide a  company as it strives to accomplish its  mission, goals ,
Correct and objectives, and to keep it  on its desired course.
Mark 1.00 out of
1.00 Select one:
competitive advantage

franchise

strategic plan

strategic management 

Your answer is correct.

The correct answer is: strategic management

Question 13 It is a road map of the actions an entrepreneur  draws up to achieve a company’s mission, goals, and 
Correct objectives.
Mark 1.00 out of
1.00 Select one:
strategy 

purpose

objectives

goals

Your answer is correct.

The correct answer is: strategy

Question 14 which of the following is/are Strategic Management Process?

Correct

Mark 1.00 out of Select one:

1.00
Develop a vision and translate it into a  mission statement.

All of the above 

Assess strengths and weaknesses.

Scan environment for opportunities and threats.

Your answer is correct.

The correct answer is: All of the above

Question 15 A clearly defined vision __________ .

Correct

Mark 1.00 out of Select one:

1.00
Determines decisions

Provides direction

Motivates people

all of the above 

Your answer is correct.

The correct answer is: all of the above

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◄ Designine a Competitive Business

Jump to... Preliminary Examination ►
Model

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