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ch021. In SWOT analysis, strengths and weaknesses are most easily identified by looking:B. Inside the firm at its specific resources.2. In SWOT analysis, opportunities and threats are identified by:C. Looking outside the firm.3. Which of the following does not represent a possible opportunity for a manufacturing firm as a part ofSWOT analysis?C. A patent developed by another firm for manufacturing a product.4. The balanced scorecard:C. Is forward looking, stressing nonfinancial measures that can lead to benefits in the future.5. The balanced scorecard can be made more effective by developing it at a detail level so that employees:D. Can see how their actions contribute to the success of the firm.6. The Euro is:C. A currency used in many European countries.7. The main objective of value chain analysis is to identify stages of the value chain where the firm can:B. Increase value to the customer or reduce cost in some way.8. It is becoming more common to see manufacturing firms use the value chain to take strategic steps to improve the overall profitability of the firm by:E. Moving to an emphasis on both the upstream and downstream activities in the value chain9. With regard to critical success factors, which one of the following would not be considered a financial measure of success?B. Growth in industry productivity.10. Which one of the following customer critical success factors is best measured by warranty expense?A. Quality.11. Which one of the following is not usually included as a perspective of the balanced scorecard?B. Tax Reporting.12. Which of the following best describes the type of information that cost management must provide that is important for the success of the organization?D. Information that addresses the strategic objectives of the organization.13. After critical success factors (CSFs) have been identified, the next step in developing a competitive strategy is to develop relevant and reliable measure for these CFSs. These measures are important to help the organization:E. Monitor progress toward achieving strategic goals.14. A firm has decided to use the balanced scorecard. Which of the following is not an advantage the company will gain by using the balanced scorecard?D. It provides a comprehensive financial overview of the firm.