Topic 1: Key concepts in Global Busines Arc

What is the main purpose of a company’s mission statement?. To describe future aspirations of the company. To define short-term financial objectives. To state the company’s purpose and reason for existence. To outline daily operational tasks.

Which concept represents a company’s aspirations looking forward?. Mission. Objectives. Strategy. Vision.

In the planning pyramid, which element focuses on day-to-day efforts?. Strategies. Actions. Tactics. Objectives.

Which of the following is NOT a benefit of setting clear objectives?. Clearer focus. Improved decision-making. Elimination of all risks. Better communication and collaboration.

What does the “M” in SMART objectives stand for?. Meaningful. Measurable. Manageable. Motivating.

According to the SMART framework, objectives should be: General and flexible. Ambitious but undefined. Specific, measurable, attainable, realistic and time-bound. Focused only on long-term goals.

Value creation in international business mainly requires: Reducing costs at any level. Increasing market share quickly. Identifying competitive advantages and developing strategies to leverage them. Copying competitors’ strategies.

Which of the following is a strategic analysis tool used for decision-making?. Benchmarking. SWOT Analysis. Six Sigma. PESTEL only.

What is the main purpose of a Balanced Scorecard?. To control employee performance. To visualize results and support decision-making. To forecast financial crises. To replace financial statements.

In the PDCA cycle, which step involves implementing the plan?. Plan. Do. Check. Act.

Which element of the planning pyramid defines the key tasks to be accomplished?. Mission. Vision. Objectives. Tactics.

Which concept explains how a company intends to reach its objectives?. Vision. Mission. Strategy. Values.

In an international business context, leadership mainly refers to: Managing only financial resources. Controlling operational costs. Guiding people and decisions in a multicultural environment. Delegating tasks without involvement.

Which of the following best describes financial planning?. Estimating sales forecasts only. Managing daily expenses. Estimating capital needs and allocating financial resources. Recording past financial data.

What is the main objective of financial forecasting?. To eliminate uncertainty completely. To anticipate future financial outcomes and support decisions. To prepare accounting reports. To control employee productivity.

Which tool helps identify strengths, weaknesses, opportunities and threats?. Balanced Scorecard. Fishbone Diagram. Porter’s Five Forces. SWOT Analysis.

In Porter’s Five Forces model, which force analyzes competition within the industry?. Threat of substitutes. Bargaining power of suppliers. Threat of new entrants. Competitive rivalry.

What does the “Check” phase of the PDCA cycle involve?. Designing improvements. Implementing actions. Assessing results and measuring performance. Making final decisions.

Continuous improvement mainly focuses on: Avoiding feedback. Maintaining current processes. Learning from results and improving processes over time. Increasing short-term profits.

Effective feedback should: Focus only on weaknesses. Be based on personal opinions. Consider individual, other-person and group perspectives. Be given only when results are negative.