Question

7 40. SWOT analysis stands for: Strengths, weaknesses, organization, and trends b. Strengths, weaknesses, opportunities, and threats c. Strengths, weaknesses, organization, and threats d. Strengths, weaknesses, opportunities, and trends 41. Which of the following is NOT the Porter's Five Forces Model? a. Bargaining power of seller b. Bargaining power of buyers c. Threat of new entrants d. Threat of substitute products e. Rivalry among existing firms 42. The Marketing plan: a. Is an action plan or roadmap to guide the company from one place to the next b. Describes products or services c. Contains a contingency planning component d. Contains a mission statement e. All of the above 43. A Marketing plan includes all of the following parts EXCEPT: a. Sales strategy b. Promotional plan c. Distribution channels d. Company policies e. Cost of implementing the plan 44. Process design: a. Provides a blueprint for completing the work or a task b. Must be within organizational needs and budget c. Can be simple or complex d. All of the above 45. A Flowchart: a. Is a picture or diagram of a process b. Presents all possible factors that can influence a process design c. Is global in nature d. All of the above 46. Process design is NOT influenced by: a. The size and setting of the laboratory b. Equipment c. Employee salary d. Test methodology Regulations e

Answer 1

Answer to 40:

The correct option is 'b', Strengths, Weaknesses, Opportunities and Threats. It is a study done by an organization to identify its internal strengths and weaknesses along with external opportunities and threats to the business. This analysis tool can be used to specify the objectives of an organization and also help in identifying the factors that may be favorable or unfavorable in achieving those objectives.

Answer to 41:

The correct option is 'a', Bargaining Power of Sellers. All of the other are Porter's Five Forces model along with Bargaining Power of Suppliers and not Sellers.

Answer to 42:

The correct option is 'b', Describes Products or Services. A marketing plan outlines advertising strategy for the products and services of an organization and helps it in reaching its target market.

Answer to 43:

The correct option is 'd', Company Policies. A marketing plan includes sales strategy and promotional plan for the producst and services. A proper distribution channel for the products/services to reach the ultimate customer and metrics that would measure the results of marketing i.e. cost of the marketing plan.

Answer to 44:

The correct option is 'd', All of the above. Process Design is nothing but determining the work processes, equipments required for particular work. Process design must be such that it is within the organizational needs and budget and it could be as simple as using flowchart and as complex as using simulation software.

Answer to 45:

The correct option is 'd', All of the above. A flowchart is nothing but a diagram which represents a process. It shows a step-by-step approach in a process with the help of various types of boxes and arrows with mention of all possible factors inside this boxes that can influence a process design. A flowchart also uses global variables having global access.

Answer to 46:

The correct option is 'c', Employee Salary. Process design is determining work processes for a particular work and it is influenced by size and setting of laboratory, available equipments, testing methodologies and regulations of the organizations. Employee's salary has nothing to do with process design.