Mar-3023 Study Guide - Midterm Guide: Subliminal Stimuli, Profit Maximization, False Advertising
Document Summary
Below are two sample questions that provide examples of the kinds of recognition- and application-style questions you will see on the exam. When studying, ask yourself these types of questions for each topic and try to think of your own examples for brands and companies you know. Recognition questions either provide a scenario from a real life business setting or it describes a (cid:272)o(cid:374)(cid:272)ept. Either (cid:449)a(cid:455), the goal is to re(cid:272)og(cid:374)ize (cid:449)hat"s (cid:271)ei(cid:374)g des(cid:272)ri(cid:271)ed. One of the first parts of the strategic planning process involves taking a complete assessment of the fir(cid:373). The pro(cid:272)ess i(cid:374)(cid:272)ludes des(cid:272)ri(cid:271)i(cid:374)g (cid:894)(cid:1005)(cid:895) (cid:449)hat the (cid:272)o(cid:373)pa(cid:374)(cid:455) does (cid:449)ell, (cid:894)(cid:1006)(cid:895) (cid:449)hat it does(cid:374)"t do well, (3) identifying things the firm can take advantage of and (4) noting things it should be concerned about. The process described is known as: a swot analysis, external scanning, environmental scanning, strategic assessment, internal scanning. Commentary: as you can see, the question is describing a swot analysis without using the term.
