The Tool Appropriate for the Third Step of the Small

question 23

Multiple Choice

The tool appropriate for the third step of the small business strategy process to study the dynamics and trends of your industry is the

• A)value chain analysis.
• B)SWOT analysis.
• C)VRIO analysis.
• D)industry analysis.

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Definitions:

Sociological Research

The systematic study of social behaviors, structures, and functions to understand and predict human social interactions.

Code of Ethics

A set of principles and rules used by individuals or groups to guide decision-making and actions, ensuring integrity and ethical conduct within a professional or organizational context.

Institutional Review Board (IRB)

A committee established to review and approve the ethical aspects of research studies involving human subjects, ensuring that the studies are conducted ethically and the rights of participants are protected.

Research Project

A systematic investigation undertaken to gather information, analyze data, and generate new knowledge on a specific topic or question.