STR 581 Week 3 Quiz

1. Simon Ize is the owner of a company (2-Shine Simon Ize-It) that specializes in a variety of floor waxing and polishing products. His company managers are in the process of finding answers to such questions as: How well is our current strategy working? and What is our current situation? In order to obtain the answers to these types of questions Simon's company is most likely to conduct which one of the following? A) Analysis of strengths and weaknesses B) SWOT analysis C) Analysis of weaknesses and threats D) Strategic brainstorming session 2. The 2-Shine Simon Ize-It Company wants to know the major favorable situations that exist in its environment. Essentially, the company wants to gain understanding of its _________. A) strengths B) weaknesses C) threats D) opportunities 3. All of the following would represent possible threats to the 2-Shine Simon Ize-It Company except which one of the following? A) Entrance of new competitors B) Improved buyer or supplier relationships C) New or revised regulations D) Slow market growth 4. All of the following except which one would be considered a weakness to a business such as the one owned by Simon Ize? A) Maturing markets B) Limited industry expertise C) Brand name D) Limited financial resources 5. Utilizing a SWOT analysis diagram, one would expect to find which piece of information about the company in question in Cell 2? A) Supports a diversification strategy B) Supports a defensive strategy C) Supports an aggressive strategy D) Supports a turnaround-oriented strategy All but which one of the following would be considered a limiting factor or influence to a SWOT analysis? A) The analysis can overemphasize a single strength. B) The SWOT analysis can ignore changing circumstances. C) It can recognize that a strength is always a source of competitive advantage. D) The analysis can downplay external threats.

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7. ________ attempts to understand how a business creates customer value by examining the contributions of different activities within a business to that value. A) Internal analysis B) Value chain analysis C) A value chain

D) SWOT analysis 8. Primary activities conducted by a firm are those that are involved in the creation, marketing, and transfer of the product to the buyer. Which one of the following would not be considered a primary activity? A) Procurement B) Marketing and Sales C) Inbound logistics D) Service 9. The _______ is a method of analyzing and identifying a firm's strategic advantages based on examining its distinct combination of assets, skills, capabilities, and intangibles as an organization. A) value chain analysis B) activity-based cost accounting method. C) resource-based view D) SWOT analysis 10. The tangible assets of a firm such as Gary's Two-Can Tan Company would include all but which one of the following? A) Its trademark. B) Its raw materials. C) Its financial resources. D) Its computer systems.