Exam Prep A Level

Question 1

Strategic Management

Answer 1

Analysis of the current business situation, setting long term objectives and decide on business objectives.

Question 2

Strategic analysis

Answer 2

Process of researching into the business and its environment.

Question 3

SWOT

Answer 3

Form of strategic analysis that identifies & analyses main internal strengths, weaknesses, external opportunities and threats that will influence the business.

Question 4

PEST

Answer 4

Strategic analysis of a firms macro environment includes: political, economic, social and technological factors.

Question 5

Diversification

Answer 5

Process of selling different unrelated goods or services in new markets