,1. Multiple Choice: Which of the following is a key characteristic of
strategic thinking?
a) Focusing on short-term objectives
b) Adhering strictly to traditional methods
c) Anticipating future trends and issues
d) Avoiding risk at all costs
Correct Answer: c) Anticipating future trends and issues
Rationale: Strategic thinking involves looking ahead and
preparing for future developments, rather than just focusing on
immediate concerns.
2. Fill-in-the-Blank: __________ is the process of identifying and
leveraging unique opportunities to create value.
Correct Answer: Opportunity recognition
Rationale: Opportunity recognition is a core component of
innovative thinking, allowing businesses to find and exploit
openings for competitive advantage.
, Correct Answer: False
Rationale: Innovation can also involve improving or recombining
existing ideas or products in a way that adds value.
4. Multiple Response: Select all that apply. Which of the following
are elements of a SWOT analysis?
a) Strengths
b) Weaknesses
c) Opportunities
d) Threats
e) Objectives
Correct Answers: a) Strengths, b) Weaknesses, c)
Opportunities, d) Threats
Rationale: SWOT analysis is a strategic planning tool used to
identify and analyze the internal and external factors that can
impact an organization.
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ClemAcademia. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
