21) Which of the below is true of ‘Value stream mapping’?
a. Given an initial context, when an event occurs, then some outcomes are ensured
b. It is a lean management method for analyzing the current state and designing a future state for the series of events that take a product or service from its beginning through to the customer
c. It is a management tool that can be used to gauge the loyalty of a firm's customer relationships
d. It helps drive business decisions based on purpose
22) A management tool that can be used to gauge the loyalty of a firm's customer relationships is:
a. Net Promoter
b. Value stream mapping
c. Purpose-based alignment model
d. Kano model
23) PESTLE technique is used to examine the business environment within which an organization. PESTLE stands for which of the following?
a. Political, Economic, Socio-cultural, tactical, legal, environmental
b. Physiological, Economic, Socio-cultural, technological, legal, environmental
c. Political, Economic, Socio-cultural, technological, legal, environmental
d. Political, Economic, Socio-cultural, technological, legal, ergonomical
24) During your examination of the business environment, you have noticed that there is an increase in the number of working mothers. Which of the below factors does this belong to in the PESTLE technique?
a. Economic
b. Socio-cultural
c. Environmental
d. Economic
25) During your examination of the business environment, you have noticed that there is a need to comply with SOX audit laws when reporting financial numbers. Which of the below factors does this belong to in the PESTLE technique?
a. Economic
b. Legal
c. Environmental
d. Economic
26) During your examination of the business environment, you have noticed that there is a need to comply with a new law that the plastic used to manufacture all baby feeding bottles should be free of BPA. Which of the below factors does this belong to in the PESTLE technique?
a. Economic
b. Legal
c. Environmental
d. Economic
27) Which of the below are techniques used to examine the internal capability of an organization?
a. MOST Analysis
b. Resource Audit
c. Boston Box
d. External business environment analysis
Choose the correct answer:
i. a, b, c
ii. a, b
iii. Only a
iv. Only b
28) Porter’s five forces framework is used to examine the business environment. Which of the below are the five forces in the framework?
a. Potential customers, Buyers, Substitutes, Suppliers, Industry competitors
b. Potential entrants, Legal restrictions, Substitutes, Suppliers, Industry competitors
c. Potential entrants, Buyers, Substitutes, Suppliers, Industry competitors
d. Potential entrants, Buyers, Substitutes, Suppliers, Industry regulations
29) When examining the business environment, you are digging into factors such as who the competitors in your industry are, what the likelihood of new entrants coming into the industry is, what are the alternatives to products offered by this company, what the bargaining power of suppliers and buyers is. Which of the following techniques are you using?
a. MOST Analysis
b. Porter’s five forces framework
c. Boston Box
d. Resource audit
30) In MOST analysis used to be used to examine the internal capability of an organization, MOST stands for:
a. Mission, Options, Strategy, Tactics
b. Mission, Objectives, Strengths, Tactics
c. Mission, Objectives, Strategy, Technology
d. Mission, Objectives, Strategy, Tactics
31) During resource audit, you find that your organization has the technological resources needed for the next initiative. Technology is an example of:
a. Tangible resource
b. Intangible resource
c. Human resource
d. None of the above
32) The Boston Box is used to assess an organization’s products and services according to their market shares and their market growth prospects. The four quadrants of the Boston Box are:
a. Problem, Star, Dog, Cash cow
b. Wild cat, Star, Market share, Cash cow
c. Market growth, Star, Dog, Cash cow
d. Wild cat, Star, Dog, Cash cow
33) You are performing the SWOT analysis for your company. What does SWOT stand for?
a. Social factors, Weaknesses, Opportunities, Threats
b. Strengths, Weaknesses, Opportunities, Threats
c. Strengths, Weaknesses, Options, Threats
d. Strengths, Weaknesses, Opportunities, Technologies
34) You are considering using Ansoff’s matrix to define your company’s business strategy. The 2x2 matrix maps new and existing markets against new and existing products. The matrix consists of which of the following?
a. Market preference, Market development, Product development, Diversification
b. Market penetration, Market development, Product development, Diversification
c. Market penetration, Market challenges, Product development, Diversification
d. Market penetration, Market development, Product determination, Diversification
35) Your company is planning to introduce their existing clothing maternity product line to new countries. Which of the below (using Ansoff’s matrix) is the strategy the company is using?
a. Market penetration
b. Market development
c. Product development
d. Diversification
36) Your company is planning to use extensive marketing and sales campaigns and offers to increase sales of their existing clothing maternity product line. Which of the below (using Ansoff’s matrix) is the strategy the company is using?
a. Market penetration
b. Market development
c. Product development
d. Diversification
37) McKinsey 7-S model defines the areas of an organization that need to be in alignment if it is to operate effectively. Which of the below are the seven S’s in the McKinsey 7-S model?
a. Structure, Simplicity, Shared values, Systems, Skills, Staff, Style
b. Structure, Strategy, Shared values, Systems, Skills, Staff, Schemes
c. Structure, Strategy, Shared values, Systems, Skills, Staff, Style
d. Structure, Strategy, Shared values, Sociology, Skills, Staff, Style
38) One of the S’s in the McKinsey 7-S model stands for ‘Style’. This can refer to culture and management style. You notice that the managers in your organization tells the staff how to go about doing their tasks and the staff follow. Which of the below styles does this fit in?
a. Mentoring manager/empowered staff
b. Commanding manager/instructed staff
c. Mentoring manager/instructed staff
d. Commanding manager/Empowered staff
39) You are using the ‘Four-view’ model to make changes to your organization. Which of the below key areas would you consider?
a. People, Processes, Technology, Organization
b. People, Politics, Technology, Organization
c. People, Processes, Technology, Opportunities
d. People, Processes, Threats, Organization
40) Your organization has defined ‘Excellent customer service’ as a critical success factor. It has also decided to measure the number of complaints received from customers in a quarter. The number of complaints received is a:
a. Key measure
b. Critical success measure
c. Key performance indicator
d. Key improvement indicator
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