2026 QUESTIONS WITH SOLUTIONS 100%
CORRECT
⩥ What is a process?. Answer: The set of steps employed to carry out a
specific business or organizational activity
⩥ Which of the following is an advantage for firms entering a market
early?. Answer: Ability to build customer loyalty
⩥ Which of the following is a possible shortcoming of a SWOT
analysis?. Answer: The SWOT framework is ambiguous and the analysis
may turn up findings that are based in speculation rather than fact.
⩥ What can Porter's five forces tell us about the business environment?.
Answer: The attractiveness of an industry
⩥ Which of the following statements best describes a value chain
strategy?. Answer: A firm should adopt software packages that
specifically support its value chain.
⩥ Why is it important for a firm to evaluate its internal strengths?.
Answer: Strengths are a source of potential competitive advantage.