50Decision making is the basis of business. Some decisions are made instinctively, more complex decisions require analysis.
What tools can be used to evaluate alternatives? There are many decision models, principles and tools used in business. Many complex decisions are debated by a team and become the subject of analysis, discussion, brainstorming and workshops.

Strategic management is an ongoing process that evaluates and controls the business in which the company is involved.
Without a clear strategic vision it is difficult to effectively manage, change or develop a business, as decisions by the management team could be entirely arbitrary.

There are ten questions some of which are “tick all that apply “, and others are True/False.

The pass mark is 70 out of a potential 100 points, 10 for each question.

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The Decision Making and Business Strategy Quiz

1. Brainstorming is often credited with producing creative, radical ideas. It provides an open environment with no preconceptions so can build on unconventional ideas.
2. SWOT analysis deals with some internal factors so usually analyses a business unit, a proposition or idea. It is often used in competitor analysis.
3. PEST analysis, an acronym for
4. A PEST analysis can be quantified to facilitate selection between several alternatives. This can be done by scoring and weighting the items in each of the sections and adding the score for each box.
5. Brainstorming;-
Select all that apply
6. SWOT is an acronym for
7. Brainstorming;-
Select all that apply
8. Strategic management is an ongoing process that evaluates and controls the business in which the company is involved.
9. A PEST analysis deals with external factors so usually analyses market potential, considering factors such as growth or decline, strategy, market attractiveness, business potential, business and strategic planning, marketing planning, business and product development
10. Probably the most important role of the executive today is to ensure the business strategy considers new technological developments and positions the company to use or exploit the new technology.

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