Practice Test: IB Business And Management- Business Organisation & Environment #1.6

40 Questions | Total Attempts: 255

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Business Management Quizzes & Trivia

Questions and Answers
  • 1. 
    In a SWOT analysis, the 'S' stands for Strengths which is an internal factor.
    • A. 

      True

    • B. 

      False

  • 2. 
    In a SWOT analysis, the 'W' stands for Weaknesses which is an internal factor.
    • A. 

      True

    • B. 

      False

  • 3. 
    In a SWOT analysis, the 'S' stands for Strengths which is an external factor.
    • A. 

      True

    • B. 

      False

  • 4. 
    In a SWOT analysis, the 'W' stands for Weaknesses which is an external factor.
    • A. 

      True

    • B. 

      False

  • 5. 
    In a SWOT analysis, the 'O' stands for Opportunities which is an internal factor.
    • A. 

      True

    • B. 

      False

  • 6. 
    In a SWOT analysis, the 'O' stands for Opportunities which is an external factor.
    • A. 

      True

    • B. 

      False

  • 7. 
    In a SWOT analysis, the 'T' stands for Threats which is an external factor.
    • A. 

      True

    • B. 

      False

  • 8. 
    In a SWOT analysis, the 'T' stands for Threats which is an internal factor.
    • A. 

      True

    • B. 

      False

  • 9. 
    Fill in the missing gap:  Opportunities Strengths ___________ Weaknesses
  • 10. 
    Fill in the missing gap: _____________ Strengths Threats Weaknesses
  • 11. 
    Fill in the missing gap: Opportunities Strengths Threats __________
  • 12. 
    Fill in the missing gap: Opportunities _____________ Threats Weaknesses
  • 13. 
    Financial backers would be interested in the relative strengths and weaknesses of a business proposal. This can be done through examining a firm's
    • A. 

      Research proposal

    • B. 

      Executive summary

    • C. 

      Business plan

    • D. 

      Annual report

  • 14. 
    Under what circumstances would scientific decision-making be appropriate?
    • A. 

      When time is of the essence

    • B. 

      When dealing with ethical issues

    • C. 

      When finance for detailed market research is available

    • D. 

      When past experience is sought

  • 15. 
    Critical decisions and long-term decsions that set the overall direction for a business are known as
    • A. 

      Operational decisions

    • B. 

      Tactical decisions

    • C. 

      Strategic decisions

    • D. 

      Premeditated decisions

  • 16. 
    Which of the following would not be considered as a strength in  a SWOT analysis?
    • A. 

      A high staff retention rate

    • B. 

      A high staff turnover rate

    • C. 

      A healthy product portfolio

    • D. 

      A wide and loyal customer base

  • 17. 
    Which of the following would not be considered as an opportunity in  a SWOT analysis?
    • A. 

      Entering new overseas markets

    • B. 

      A merger with a rival firm

    • C. 

      High level of staff motivation

    • D. 

      The development of new products

  • 18. 
    Which of the following would not be considered as a threat in  a SWOT analysis?
    • A. 

      Lower entry barriers in the industry

    • B. 

      Industrial action from the workforce

    • C. 

      A takeover bid from another company

    • D. 

      Lower interest rates in the economy

  • 19. 
    Which of the following would not be considered as a weakness in  a SWOT analysis?
    • A. 

      Low cash flow

    • B. 

      High interest rates

    • C. 

      Limited product range

    • D. 

      No new products in the product pipeline

  • 20. 
    Which of the following would not be considered as an opportunity in  a SWOT analysis?
    • A. 

      Depreciating exchange rate for exporting company

    • B. 

      Free trade deal signed with India

    • C. 

      Rival in a key market with very low market capitalisation valuation

    • D. 

      Excellent customer service ratings

  • 21. 
    Which of the following would not be considered as a strength in  a SWOT analysis?
    • A. 

      Fast growing population in key market segment

    • B. 

      Strong R&D programme

    • C. 

      Comprehensive market research data

    • D. 

      Economies of scale

  • 22. 
    A business plan is un likley to include which of the following?
    • A. 

      Statement of aims and objectives

    • B. 

      Competitor analysis

    • C. 

      Pricing policy

    • D. 

      Cash flow statement

  • 23. 
    Which of the following documents is most likley to be placed at the fron of a business plan?
    • A. 

      Executive summary

    • B. 

      Research proposal

    • C. 

      Appendices

    • D. 

      Bibliography

  • 24. 
    A typical decision-making framework will help address all of the following questions, except
    • A. 

      How the business intends to achieve its objectives

    • B. 

      Where a business wants to be

    • C. 

      Why it is important to reach the firm's goals

    • D. 

      Identifying the current position of the business

  • 25. 
    Elements of a business plan are least likley to include
    • A. 

      Marketing research

    • B. 

      Marketing strategy

    • C. 

      Ratio analysis

    • D. 

      Sources of finance

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