1. Porters five forces model is used enable organizations compete with A. Other

ID: 463969 • Letter: 1

Question

1. Porters five forces model is used enable organizations compete with

A. Other competitors operating in the same market.

B. Other competitors operating in the same industry.

C. Other competitors operating in similar markets.

D. Other competitors operating internationally.

2. When a technology based company have its products patented, this can form a

A. strategic resource

B. barrier of entry

C. business conflict

D. none of the above

3. A creed statement is synonymous to the organization’s

A. Vision

B. Mission

C. Objectives

D. Statement about competitors

4. Establishing annual objectives, devising policies and motivating employees in a firm are all activates of

A. Strategic formulation

B. Strategic implementation

C. Strategic evaluation

D. None of the above

5. Measuring the firm’s performance is an activity part of

A. Strategic formulation

B. Strategic implementation

C. Strategic evaluation

D. None of the above

1 - B. Other competitors operating in the same industry

Porter's five forces analysis is done at an industry level.

2. B. Barriers to entry

competitors cant legally start manufacturing the patented product until the patent expires. Therefore patents create barriers to entry.

3. B. Mission

Mission statement is also called a creed statement, It is a statement of purpose of business, beliefs and philosophy.

4. B. Strategic implementation

Strategic implementation requires a organization to establishing annual objectives, devising policies and motivating employees.

5. C. Strategic Evaluation

Measuurement of firm's performance is in indicator of how eeffective the strategy is.

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