#1
What is the purpose of SWOT analysis in business?
To identify strengths, weaknesses, opportunities, and threats
To calculate profit and loss
To manage customer relationships
To analyze market trends
#2
What is a Pareto analysis primarily used for?
To prioritize issues based on their impact
To forecast sales trends
To assess employee performance
To calculate return on investment
#3
Which of the following is NOT a characteristic of a SMART goal?
Specific
Measurable
Attainable
Retroactive
#4
Which strategy aims to reduce costs while maintaining acceptable levels of quality and service?
Differentiation strategy
Cost leadership strategy
Focus strategy
Blue ocean strategy
#5
What is the primary purpose of a SWOT analysis?
To identify potential opportunities for growth
To evaluate internal strengths and weaknesses
To assess customer satisfaction levels
To calculate return on investment
#6
Which of the following is NOT a component of Porter's Five Forces framework?
Supplier power
Competitive rivalry
Customer loyalty
Threat of new entrants
#7
What does the acronym KPI stand for in business?
Key Performance Indicator
Keep Progressing Indefinitely
Knowledgeable Profit Indicator
Key Progress Initiative
#8
Which of the following is a characteristic of a sustainable competitive advantage?
Easily replicable by competitors
Short-term effectiveness
Difficult for competitors to imitate
Dependent on external factors
#9
In project management, what does the critical path refer to?
The longest sequence of tasks determining the minimum project duration
The most challenging tasks in the project
The tasks with the highest priority
The final stage of the project
#10
What is the primary purpose of benchmarking in business?
To identify areas for improvement by comparing with industry best practices
To set unrealistic goals for the company
To create internal competition among employees
To measure financial performance
#11
What does the BCG matrix classify businesses based on?
Market growth rate and relative market share
Employee satisfaction and turnover rate
Revenue and profit margin
Geographical location
#12
What is the main objective of Porter's Five Forces analysis?
To assess a company's internal strengths and weaknesses
To identify potential opportunities for expansion
To analyze the competitive intensity of an industry
To evaluate customer satisfaction levels
#13
What is the main purpose of a differentiation strategy in business?
To offer products at the lowest price in the market
To target a broad market segment
To create a unique offering that stands out from competitors
To focus on a narrow market niche
#14
What is the primary focus of a blue ocean strategy?
Outcompeting rivals in existing markets
Expanding market share through aggressive marketing
Creating uncontested market space and making competition irrelevant
Adopting a cost leadership approach
#15
What does the term 'disruptive innovation' refer to?
An innovation that improves existing products or services
An innovation that introduces a new product or service to an existing market
An innovation that creates a new market and value network
An innovation that outperforms competitors in terms of quality