Business Unit Strategic Planning - Quiz

1. Portfolio analysis in business unit strategic planning helps to:

Set employee performance targets

Develop new products

Increase operational efficiency

Assess the performance of different business units and allocate resources accordingly

2. The GE-McKinsey Matrix helps companies decide:

The attractiveness of an industry and the strength of business units within it

The profitability of specific employees

The pricing strategy of products

The logistics strategy for inventory management

3. The first step in business unit strategic planning is:

Conducting market research

Defining the business mission

Developing a marketing plan

Allocating resources

4. A cost leadership strategy in business unit planning aims to:

Provide products at the lowest possible cost to gain market share

Introduce new technology at higher costs

Expand into international markets

Focus on premium pricing strategies

5. Scenario planning in strategic planning is:

A method for anticipating and preparing for future market changes and uncertainties

A cost-cutting measure

A tool used to forecast employee productivity

A focus on immediate market share growth

6. An example of an external opportunity in a SWOT analysis could be:

Strong brand reputation

Increasing demand for eco-friendly products

Inefficient operations

High employee turnover

7. A business unit’s mission statement should focus on:

Long-term profitability

Broad goals that reflect its core values and customer needs

Immediate revenue generation

Reducing employee size

8. A differentiation strategy in business unit planning involves:

Lowering prices to attract more customers

Offering unique product features that set the product apart from competitors

Reducing marketing efforts

Limiting product variety

9. A SWOT analysis in strategic planning is used to evaluate:

Marketing budgets

The internal strengths and weaknesses and external opportunities and threats facing the business unit

Competitors only

Financial statements

10. Core competencies in a business unit provide:

A temporary competitive advantage

A way to reduce costs

A method to limit marketing efforts

A unique set of skills and resources that distinguish the business from its competitors

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