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WGU D263 MGMT 5040 Frameworks for Strategic Decision Making READINESS ASSESSMENT GUIDE Q & S 2026/2027
1. What does the acronym SWOT stand for in strategic decisionmaking?
- A) Strengths, Weaknesses, Opportunities, Threats
- B) Strategies, Weaknesses, Outcomes, Threats
- C) Strengths, Weaknesses, Objectives, Targets
- D) Skills, Weaknesses, Opportunities, Tactics
Correct Answer: A
Rationale: SWOT analysis is a framework for identifying and
understanding the internal strengths and weaknesses, and the
external opportunities and threats.
2. Which of the following frameworks focuses on the competitive
forces affecting an industry?
- A) Balanced Scorecard
- B) PEST Analysis
- C) Porter's Five Forces
- D) Value Chain Analysis
Correct Answer: C
Rationale: Porter's Five Forces analyze the competitive landscape
by examining the influences of competitors, potential entrants,
substitutes, buyers, and suppliers on market dynamics.
3. In the context of strategic decision-making, what does the 4Ps
model refer to?
- A) People, Process, Promotion, Price
- B) Product, Price, Place, Promotion
- C) Product, Process, People, Performance
- D) Purpose, Product, Profit, Promotion
Correct Answer: B
Rationale: The 4Ps (Product, Price, Place, Promotion)
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