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

40 Questions | By Catherinehalcomb | Updated: Feb 14, 2023 | Attempts: 341

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

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