WGU D263 MGMT 5040 Frameworks for Strategic Decision Making READINESS ASSESSMENT GUIDE Q & S 2025/2026

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)