Ib Business And Management Business Organisation & Environment: 1.6

40 Questions

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Business Organisation 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. 
    Match the folowing factors as being strengths, weaknesses, opportunities or threats
    • A. High gearing
    • A.
    • B. High market share
    • B.
    • C. Reduced barriers to entry
    • C.
    • D. New overseas markets to enter
    • D.
  • 10. 
    Match the folowing factors as being strengths, weaknesses, opportunities or threats
    • A. Credit sales limiting cash flows
    • A.
    • B. Highly skilled staff
    • B.
    • C. New competitor
    • C.
    • D. Deregulation
    • D.
  • 11. 
    Match the folowing factors as being strengths, weaknesses, opportunities or threats
    • A. High levels of debt
    • A.
    • B. Large cash assets
    • B.
    • C. Declining population in key market segment
    • C.
    • D. Inexpensive acquisition target in new market
    • D.
  • 12. 
    Fill in the missing gap:  Opportunities Strengths ___________ Weaknesses
  • 13. 
    Fill in the missing gap: _____________ Strengths Threats Weaknesses
  • 14. 
    Fill in the missing gap: Opportunities Strengths Threats __________
  • 15. 
    Fill in the missing gap: Opportunities _____________ Threats Weaknesses
  • 16. 
    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

  • 17. 
    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

  • 18. 
    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

  • 19. 
    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

  • 20. 
    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

  • 21. 
    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

  • 22. 
    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

  • 23. 
    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

  • 24. 
    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

  • 25. 
    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

  • 26. 
    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

  • 27. 
    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

  • 28. 
    Elements of a business plan are least likley to include
    • A. 

      Marketing research

    • B. 

      Marketing strategy

    • C. 

      Ratio analysis

    • D. 

      Sources of finance

  • 29. 
    Decision making that is based on a person's own experiences and feelings is known as
    • A. 

      Intuitive decision-making

    • B. 

      Scientific decision-making

    • C. 

      Strategic decision-making

    • D. 

      Tactical decision-making

  • 30. 
    Which advantage does not apply to decision trees?
    • A. 

      They set out the decision making problems in a clear and logical manner

    • B. 

      They are based on important intuitive and qualitative factors that affect decision making

    • C. 

      They provide a quick and visual interpretation of the likely outcomes of decisions that need to be made

    • D. 

      They force managers to assess the risks made in pursuing certain decisions

  • 31. 
    Drawbacks of using decsion trees do not include which statement below?
    • A. 

      The probabilities are only estimates and the outcomes are therefore uncertain

    • B. 

      They ignore intuitive decision making

    • C. 

      They ignore social factors and legal constraints in the decision making process

    • D. 

      They ignore the financial costs of investment decisions

  • 32. 
    Which statement below does not apply to the Ishikawa fishbone model of decision-making?
    • A. 

      It looks at the causes and effects of a particular problem or issue

    • B. 

      It is a visual tool used to identify the root cause of a problem or issue

    • C. 

      It places a monetary value on key decisions

    • D. 

      It can be a useful brainstorming tool

  • 33. 
    External constraints on business planning and decision making include
    • A. 

      The availability of finance

    • B. 

      Exogenous shocks

    • C. 

      Organisational culture

    • D. 

      Human resources

  • 34. 
    ____________ decision-making: Involves making decisions based on instinct or 'gut feeling' (perhaps based on the manager's experience) for a situation and the options available
  • 35. 
    _________  decision-making: Involves basing decisions on a formal framework and a data analysis of both the problems and the options available
  • 36. 
    ____________: Limiting factors in decision-making that can be controlled by the organisation
  • 37. 
    _____________:  Limiting factors in decision-making that are beyond the organisation's control.
  • 38. 
    A PEST analysis would normally identify  __________  constraints             
  • 39. 
    __________ refers to any medium- to long-term plan of how a business intends to meet its goals
  • 40. 
    ______________: a written document that describes a business, its objectives and its strategies, the market it is in and its financial forecasts