PEST is an analysis which describes a framework of macroeconomic factors used in 'environmental scanning.' What does the T in PEST stand for?
Technology
Trends
Topography
None of the above
PEST is also known as
SWOT
Benchmarking
PEPE
STEP
Why would a company benchmark?
To develop an understanding of what works well in other/related industries
To understand how other companies have designed their processes
To determine what not to do, i.e. learn from mistakes
None of the aboe
All of the above
What does the Slow Food movement promote?
That people only eat organic foods (bio)
That people only eat food that they grow themselves
The standardization of taste
Gastronomic traditions, traditional food cultivation and preservation of domestic and wild animal species
There are three criteria (of Core Competencies) that lead to the creation of value and synergy:
1. It must contribute to end product benefits
2. Provide access to a variety of markets
3. ??
It must make a profit for the company
It is difficult to imitate or find substitutes for
It must be easy to market
It must be easy to imitate or find substitutes for
What are core rigidities?
Core competencies which help to strengthen the firm
The source of new core competencies
Former core competencies that can prevent the firm from responding appropritely to changes in the external environment
None of the above
What is the VRIO analysis used for?
to test your core competencies to determine what your firm does that is strategically valuable
to test PEST
to test SWOT
to test your Core Rigidities to determine what your firm does that is strategically valuable
Who created the term 'Clusters'?
Michael Jackson
Michael Porter
Michael Cain
Michael Roberts
What are Clusters?
Geographic concentrations of interconnected companies, specialized suppliers, service providers, and associated institutions in a particular field that are present in a nation or region
Clusters are geographic concentrations of specialized suppliers, service providers, and associated institutions all working in one single industry
All companies working in the same geographic region
Geographic boundaries created by Governmental mandate (law) - for the purpose of doing business
None of the above
Clusters are very dependent upon
Universities
The community
Inventors
Alternative technologies
All of the above
None of the above
Which of the follwing is not a cluster?
The Silicon Valley
Vechta
The Algarve
The German fashion industry
IKEA's Core Competencies do not include:
Limited customer service
Self Service Selection
Creative advertising
Modular designs