1. Multiple Choice Question: In choosing a strategic direction for a business, which of the following is NOT a factor that should be considered? a) Industry analysis b) Competitive positioning c) Employee satisfaction d) SWOT analysis Correct Answer: c) Employee satisfaction Rationale: While employee satisfaction is important, it is not a primary factor in determining the strategic direction of a business. Factors such as industry analysis, competitive positioning, and SWOT analysis are more relevant in this context. 2. Short Answer Question: Explain the concept of differentiation strategy and provide an example of a company that successfully implemented this strategy. Correct Answer: Differentiation strategy involves offering unique and distinctive products or services to customers, which sets the company apart from competitors. An example of a company that successfully implemented differentiation strategy is Apple Inc., with its innovative and premium-priced products like the iPhone and iPad.