📚 Learning Guide
Business Analysis Techniques
hard

In a project to improve customer satisfaction, a team uses SWOT Analysis to identify strengths and weaknesses, Stakeholder Analysis to understand the expectations of key stakeholders, and a Fishbone Diagram to find potential causes of customer dissatisfaction. Which combination of these techniques is most effective in developing a comprehensive strategy for improvement?

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Learning Path
Learning Path

Question & Answer
1
Understand Question
2
Review Options
3
Learn Explanation
4
Explore Topic

Choose the Best Answer

A

Only SWOT Analysis is sufficient

B

Stakeholder Analysis alone will address all issues

C

Using all three techniques provides a holistic view

D

Fishbone Diagram is the only useful tool

Understanding the Answer

Let's break down why this is correct

Answer

The best approach is to use all three techniques together. First, a SWOT analysis gives a clear picture of the firm’s internal strengths and weaknesses and the external opportunities and threats. Second, stakeholder analysis pulls in the needs and concerns of customers, managers, suppliers and other key parties, ensuring the plan addresses the right expectations. Third, a Fishbone diagram digs into the root causes of the dissatisfaction that the SWOT and stakeholder insights have highlighted. Together, these tools create a strategy that is internally grounded, externally responsive, and causally focused, so the improvement plan is both realistic and targeted.

Detailed Explanation

The three tools give a complete picture. Other options are incorrect because Relying only on SWOT misses who cares about the result and why they feel that way; Stakeholder Analysis shows what people expect, but it does not reveal internal problems or how to fix them.

Key Concepts

SWOT Analysis
Stakeholder Analysis
Fishbone Diagram
Topic

Business Analysis Techniques

Difficulty

hard level question

Cognitive Level

understand

Practice Similar Questions

Test your understanding with related questions

1
Question 1

A small retail company is facing declining sales and is unsure about the reasons behind it. They decide to conduct a SWOT analysis to evaluate their current position. Which of the following best describes how they should utilize the SWOT analysis to improve their business strategy?

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2
Question 2

In a project to improve customer satisfaction, a team uses SWOT Analysis to identify strengths and weaknesses, Stakeholder Analysis to understand the expectations of key stakeholders, and a Fishbone Diagram to find potential causes of customer dissatisfaction. Which combination of these techniques is most effective in developing a comprehensive strategy for improvement?

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3
Question 3

A small retail company is facing declining sales and is unsure about the reasons behind it. They decide to conduct a SWOT analysis to evaluate their current position. Which of the following best describes how they should utilize the SWOT analysis to improve their business strategy?

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4
Question 4

In a project to improve customer satisfaction, a team uses SWOT Analysis to identify strengths and weaknesses, Stakeholder Analysis to understand the expectations of key stakeholders, and a Fishbone Diagram to find potential causes of customer dissatisfaction. Which combination of these techniques is most effective in developing a comprehensive strategy for improvement?

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Practice
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Question 5

A small retail company is facing declining sales and is unsure about the reasons behind it. They decide to conduct a SWOT analysis to evaluate their current position. Which of the following best describes how they should utilize the SWOT analysis to improve their business strategy?

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