BPS Exam 1 questions with complete
solutions graded A+
Strategic Management - correct answer ✔✔the analyses, decisions, and
actions an organization under takes in order to create and sustain
competitive advantages. Acting on the plan/strategy
Strategy - correct answer ✔✔the ideas, decisions, and actions that
enable a firm to succeed. it is the plan/ proposition of how to be
successful
environmental scanning - correct answer ✔✔surveillance of a firm's
external environment.
1. predicts environmental changes to come
2. Detects changes already under way
3. Allows firm to be proactive
Environmental Monitoring - correct answer ✔✔tracks evolution of
environmental trends
1. Sequences of measurable facts/events
2. Streams of activities or trends from outside the organization
, competitive intelligence - correct answer ✔✔1. helps firms define and
understand their industry
2. Identifies rivals' strengths and weaknesses by collecting data on
competitors and interpret intelligence data
3. helps firms avoid surprises such as anticipate competitors' moves and
decrease response time
4. Potential for unethical behavior while gathering intelligence
example: Steve from Kodak
Environmental Forecasting - correct answer ✔✔-Predicts change and
plausible projections about
-Direction of environmental change
-Scope of environmental change
-Speed of environmental change
-Intensity of environmental change
SWOT analysis - correct answer ✔✔strengths, weaknesses, - internal :
opportunities, threats - external
TOWS - correct answer ✔✔Threats
Opportunities
solutions graded A+
Strategic Management - correct answer ✔✔the analyses, decisions, and
actions an organization under takes in order to create and sustain
competitive advantages. Acting on the plan/strategy
Strategy - correct answer ✔✔the ideas, decisions, and actions that
enable a firm to succeed. it is the plan/ proposition of how to be
successful
environmental scanning - correct answer ✔✔surveillance of a firm's
external environment.
1. predicts environmental changes to come
2. Detects changes already under way
3. Allows firm to be proactive
Environmental Monitoring - correct answer ✔✔tracks evolution of
environmental trends
1. Sequences of measurable facts/events
2. Streams of activities or trends from outside the organization
, competitive intelligence - correct answer ✔✔1. helps firms define and
understand their industry
2. Identifies rivals' strengths and weaknesses by collecting data on
competitors and interpret intelligence data
3. helps firms avoid surprises such as anticipate competitors' moves and
decrease response time
4. Potential for unethical behavior while gathering intelligence
example: Steve from Kodak
Environmental Forecasting - correct answer ✔✔-Predicts change and
plausible projections about
-Direction of environmental change
-Scope of environmental change
-Speed of environmental change
-Intensity of environmental change
SWOT analysis - correct answer ✔✔strengths, weaknesses, - internal :
opportunities, threats - external
TOWS - correct answer ✔✔Threats
Opportunities
